Taiwan Is Near Record Highs. US Semis Aren’t. Something Has To Give
Semis Reloaded
Semis have taken the harder hit, but the setup is starting to get interesting again. SOX is back above its 50-day, positioning has been aggressively cleaned up and Taiwan is already back near its highs, leaving US semis with plenty of catching up to do. With key resistance just overhead and SMH optionality relatively attractive, a breakout could quickly bring the AI/semi chasers back into the game.