We have always maintained that competition is a good thing, whether in markets or in life. When someone is breathing down your neck it should inspire one to bring out their best and do better. Regarding the technology sector it seems the largest two sub sectors are constantly battling it out for best in breed status within. Below on the ratio chart comparing the semiconductors to the software space, the narrowing action seems to be going best for SMH at the moment. Judging from their most recent yearly peaks, as the SMH rests just 3% away, while the IGV is 6% shows how the group is firmly in control at the moment. Both funds began the week Monday on sound footing with the SMH gaining 3.3% and the IGV 1.6%. In my opinion one that will have a real impact on the semis is AMD, most were probably thinking NVDA. AMD busted above a bull pennant formation 6 weeks ago, which showed promise until a nasty bearish engulfing candle on 9/2. It is now resetting and may be building the right side of a cup base. A run to par into year end would be nice (full disclosure I have owned this name in IRA for some time now).