Beyond the bounce in Apple, the bulls have very strong semiconductors going for them. This is a sector I have been keying off of inside my Weekly Strategy Session for months now, dating back to the higher low it made last November versus the 2012 summer lows.
Currently, the semis are up over 1% as a sector today and threatening a major breakout above multi-quarter resistance. Sell volume has been lighter on each shallow pullback of late, and individual price action in many semiconductors has been much improved.
Members of The PPT and 12631 can click here for specific ideas. I am looking to see if this move sticks into the closing bell.
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