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Don’t Give Up and Watch the Semiconductors

Folks, don’t get too bearish. It’s not a good look when the cycle backdrop remains positive technically. Over the past few week’s I’ve discussed the technical reasons why I remain positive on the market overall, despite the sell-off that developed in May. Certainly, the headlines have been worrisome and many very level-headed clients have told me they are very concerned about a deteriorating economic and fundamental backdrop.

Now, the technical backdrop can also be interpreted with a...

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