The semiconductor stocks are ones I am going to be watching closely the week of July 23. I do not think they are a buy yet at these lels, but I do believe a bit more pullback in prices will lead to a good buying opportunity. Advanced Micro Devices (AMD)had support in the low 100’s.Qualcommm on the chart attached I expect to gather strength underneath the noted resistance.
I expect that resistance to break, but only after shaking out weak longs. So I will be looking to buy dips. These are the most promising charts I went through on the weekend, so I will be stalking those semiconductor stocks all week. In the interim remember Patience Pays!