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Fri, December 13, 2024 | 1:27PM ET
Tomblock1
L . Thomas Block

Washington Policy Strategist

Shutdown deadline nears 

Congress continues to struggle to find a strategy to avoid a government shutdown next week on Dec. 20. Both sides agree that a pre-Christmas government...

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Fri, December 13, 2024 | 12:54PM ET

⚡ FlashInsights

Fri, December 13, 2024 | 12:54PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
AVGO 24.44%  strong 20% gains are causing some outsized strength in the Semiconductor sector, despite Technology overall being lower today. SOX(Philadelphia Semiconductor sector) is up 2% but as can be seen, price has rallied to multi-day highs but remains at a key level of trendline resistance which will need to be exceeded before expecting a larger bounce out of this sub-sector which has been trending largely sideways since July. As can be seen on this daily SOX chart, the early strength failed right at 5185 and this is an important area for the Semis which when exceeded, would suggest a larger upside rally for this group. This would be further helpful to Technology which has already shown some good outperformance since the beginning of December.
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