The semiconductors may be getting their mojo back. Some of the heavyweights in the arena like AVGO, this week retested a bullish ascending triangle breakout that aligned with the very round 300 number (break carries a measured move to 340). SWKS is not shying away from battle at the very round par number, a figure it was not in touch with before dating back to July ’18. QRVO and CRUS are maintaining high altitude too. Contrast that with some software names WDAY OKTA ZS CRWD SNPS and TWLO all lower by 5-10% over the last one week period. That action has weighed on the IGV this week as the ETF is down 2.3% headed into Friday. On the ratio chart below one can see the small drawdown for the SMH versus the IGV in November, as the IGV outperformed the SMH 4 of the last 5 weeks. That will most likely come to an end as the SMH is down .8% with one day left this week. The IGV looks like it could be a failed breakout above a 230.97 cup base trigger we spoke of recently, which lasted all of 3 sessions. Breakouts that unwind that rapidly, normally are asking for trouble.