SMH is breaking out to the upside, and along with it, so are multiple semiconductor stocks. I’m eyeing AMD due to the breakout above the 50 SMA as well. Let’s take a look at the squeeze, along with the previous highs and target at $550. Come trade it with us in the Mastering the Trade room at Simpler Trading.
Markets made a new high, but under the surface, not everything is moving in a happy way. Things are so strong that even a pullback wouldn’t change trend for now.
Does the 7,800 call wall move higher and open the door to 7,857? Or are we due for a pullback?
The SPX has been surprisingly stuck near the highs… surprising only if you haven’t been following these levels. Here’s a closer look, along with the short squeeze trying to head to space.
