Don't Ignore This Chart!

KLA-Tencor (KLAC) Testing Key Support Zone

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Semiconductors ($DJUSSC) are one of the worst areas of the market today and have been one of the worst areas of technology over the past week.  KLA-Tencor (KLAC) has hit a key area of support, however, and certainly presents a much better reward to risk opportunity.  60.53 represents gap support and the February intraday low was 59.74.  These are two critical levels to watch as support in the near-term.  Should the DJUSSC begin to lead again on a relative basis, KLAC would most likely follow suit.

Happy trading!

Tom Bowley

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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