This week will certainly give some direction to where the market may head into this fall as earnings announcements will be coming hot and heavy before the open and after the close. Among the semis, NXPI will release numbers this afternoon and it is a top 10 holding in the SOXX with a 4% weighting and has rallied a combined 19% over the last 3 weeks. Tuesday after the close we hear from TXN and this name will try and find some footing near the 160 number, which was twice supportive in February and April. Equipment makers LRCX and KLAC will report after the close on Wednesday and Thursday. KLAC is the better actor of the two in much closer proximity to its 200-day SMA. INTC, which surprised me by being the third largest holding in the SOXX at almost 8%, will be in focus Thursday afternoon. Below is the WEEKLY chart most impressive to me with QCOM. It has advanced 11 of the last 15 sessions and is building the right side of a possible cup base better than any of the aforementioned semis. Above 160 I think this name sees 190 by year-end.