Semiconductor Index Continues To Sell Off
After Friday's sell-and-recovery it had looked like there was an opportunity to play a bounce, particularly for the Semiconductor Index. However, the reality proved to be different. Instead, sellers maintained the run of form from Friday and pushed the Semiconductor Index right down to Friday's low - undercutting the 50-day MA in the process. Monday's close delivered a net bearish turn in technicals. The slower trendline connecting the July-August swing lows is the next target down.