Semiconductors Are on the Clock 🌤️ The Morning Print
Good morning!
The market is sending mixed signals right now.
Some areas are holding up, while others continue to deteriorate.
Our attention now shifts to semiconductors, a key group the bulls can’t afford to lose.
In the best of bull markets, semiconductors lead.
Just yesterday, semiconductors closed at new all-time highs relative to the S&P 500.
And tomorrow, the world's most valuable company, Nvidia, reports earnings.
A positive earnings reaction could be the catalyst the market needs to resume higher.
A negative reaction however, would weigh heavily on the broader Technology sector.
The worst case scenario?
Nvidia delivers stellar results, and the market doesn’t care.
The company that helped lead us out of the 2022 bear market is on the clock again.
This will be the most important earnings release in history… until the next one.
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