“Old Tech” In Vogue:
With market participants clamoring for stability, they are showing their affinity for mature names as seen by the favorable PRICE action in some of the “old tech” plays. The IBM chart makes one feel tech is in a roaring bull, and it still pays a dividend yield well north of 4%. JNPR and CSCO look like they want to renew their rivalry of the good old days (I am revealing my age somewhat here). ORCL reports after the CLOSE Monday and give it credit for maintaining altitude above its breakout through a 78 bullish inverse head and shoulders pivot. Below is the chart of a semiconductor in CRUS that feels like it may be ready to advance above its own inverse head and shoulders trigger, an area that doubles with nagging 200-day SMA resistance, a line it has been underneath since late August. The group is firming with some nice moves within of at least 5% higher in the last month period, including NVDA AMBA LSCC, and AVGO. Is CRUS ready to take the baton?