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Commentary Topic from greenfaucet

Looking for Leadership in Semi's (IGW)

The push lower in the broad markets starting in January was led by the semiconductor sector ETF (NYSE: IGW). The comments from analyst concerning peak earnings were the catalyst to the downside. That was long ago (four weeks) and many other problems have surfaced since. However, a technical look at the chart below shows a potential bottom developing on the chart. I have outlined what could be a double bottom and potential move higher.