Chip stock breakout vs the rest of tech showing signs of topping out, says Carter Worth

The Philadelphia Stock Exchange Semiconductor Index finally has recouped all its relative losses to the S&P 500 Information Technology Sector.

Chip stock breakout vs the rest of tech showing signs of topping out, says Carter Worth

TL;DR

  • The Philadelphia Stock Exchange Semiconductor Index has recouped all its relative losses to the S&P 500 Information Technology Sector.
  • This presents two possibilities: a "triple top" (underweight semis) or a breakout to new all-time highs (overweight semis).
  • The author believes a "triple top" is more likely and advocates for an underweight position in semiconductors relative to other tech sectors.
  • The current situation is described as a "coin toss" and a critical juncture for investors.

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