Semiconductors Keep Nasdaq In the Green
This morning, the big three leading technology stocks are all trading lower. They are Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), and Google Inc (NASDAQ:GOOG). These three stocks will usually dominate the action in the NASDAQ Composite and the NASDAQ 100 Index, however, today it is the semiconductor stocks that are keeping the tech heavy index in the green. The Market Vectors Semiconductor ETF (NYSEARCA:SMH) is trading higher by 0.30 cents to $34.79 a share. Short term traders can watch for intra-day resistance on the SMH around the $34.85, and $35.05 levels. The daily chart for the SMH continues to hold up well.
Some leading semiconductor stocks that are trading higher this morning include Broadcom Corp (NASDAQ:BRCM), ARM Holdings plc (NASDAQ:ARMH), and KLA-Tencor Corp (NASDAQ:KLAC). Traders should remember that the semiconductor stocks will often lead the NASDAQ Composite higher and lower.