Semiconductor Luminary:

In each sector there will be generals that show the way. Others in the space will try and emulate its behavior, so it is important how the leaders act. Among the semiconductors one name is standing out, and below is the chart of NVDA. As violent as the moves have been recently, Friday it stepped up right where bulls would have wanted it to. This week fell more than 8%, and is now lower by more than 50 handles from the prior weeks intraweek high, but it rose nearly 7% on a poor tape most of the day Friday. Compare that to chief rival AMD, which rose a bit more than 3% Friday, but cratered 14.6% for the week. Technology bulls will look to this name for leadership in the space. INTC dropped .6% Friday, but did find support at its rising 200 day SMA, and near a prior cup with handle breakout pivot of 53.17 on 10/25/19. Gains have evaporated in rapid fashion, as individual names have taken the elevator shaft down. Look to NVDA to provide valuable clues next week, for technology as a whole.

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