You Should’ve Bought the Semis Last Week

I highlighted the mean reversion buy signal in Exodus for the semis last week, did I not? It was notable because it was a rare occurrence that had a track record of high certainty.

This is not a victory parade, at least not yet, but a confirmation that the bottom might’ve been planted last week. There is likely more gains to be had, as the momentumfags take over and drive prices higher.

Here is how the oscillator looked last week. Notice the valley? That’s suggestive of a sector being oversold.

NVDA is the poster child for all semis.

I’d look for a respite and pause in this rally later on this week. You might even get a down day, or two. Barring an unforeseen geo-political event, these stocks look to be heading higher.