Leadership Matters:

Let’s be honest. If this nascent market stand is going anywhere technology is going to have to produce. The software and semiconductor spaces are lower by 7% over the last one month period. Within semiconductors, NVDA has been the general, and although they say in new bull markets new, fresh leadership assumes control the stock is the face of the group. Perhaps AMD should be thrown into that conversation. Keep in mind the 2 CEOs of these names are cousins and must make for interesting holiday get-togethers. NVDA is in correction mode 10% off highs made in early September and volume trends are very bullish. In the last 7 months, it has recorded zero weeks of distribution, and several weeks of accumulation. The chart looks good here above the very round 200 number. Maybe a good start to a possible semiconductor low came with the news from MRVL raising its outlook Wednesday.

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