The semiconductor group has been very influential during the recent rally. In fact, the SOX has been outperforming the S&P 500 since late in 2008. A key relative resistance area has been approached, however. Whether the market can sustain a move higher could hinge significantly on how semiconductors continue to perform on a relative basis.
-Tom Bowley
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About the author:
Tom Bowley is the Chief Market Strategist of EarningsBeats.com, a company providing a research and educational platform for both investment professionals and individual investors. Tom writes a comprehensive Daily Market Report (DMR), providing guidance to EB.com members every day that the stock market is open. Tom has contributed technical expertise here at StockCharts.com since 2006 and has a fundamental background in public accounting as well, blending a unique skill set to approach the U.S. stock market.
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