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If There’s a Recession Coming, Why Are Semis Rocking?

Equity markets are likely completing a short-term low after peaking, right on track, during the week of the last FOMC meeting mid-September and that month’s option expiration. I have to admit the downside move this week was more than I expected, but the timing of the low looks right, just as equity indices and bellwether industry groups bottom at support.

Rather than simply highlight a chart of the S&P 500 index, I’d like ensure that readers, particularly those with a bearish outlook, ke...

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