Todd Gordon breaks down the charts in the semiconductor sector and Broadcom.
Semiconductor shares have been underperforming the broader markets since an early August swoon caused investors to focus on a rotation into defensive and cyclical areas of the market. The charts indicate it may be time to look at chip stocks once again. The news flow is chalk full of scary factors including volatile seasonal comparisons, an uncertain path of Federal Reserve rate cuts, geopolitical conflicts, and a potentially tumultuous election.
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