The Closing Print live trading and financial blog during market hours.

Semiconductor Index and Software

Software and semiconductor stocks are strong in the pre-market session, with Microsoft poised to press higher. In addition, speculation over whether INTC is considering a bid for Broadcom (AVGO) has both higher in early trading.

Cypress Semiconductor (CY), Marvell Technology (MRVL), Skyworks (SWKS), ASML Holding (ASML, Lam Research and Teradyne (TER) are active this morning as well, indicating we could see higher levels.

Looking back, we can see the technology sector, semiconductor and software industry groups have been active over the past two weeks. This institutional activity helped propel the Nasdaq composite to a new high on Friday.
XLK Cycle Software and Semiconductors
Chips and software are also a significant part of the S&P 500 index, which retook its 50-day moving average on Thursday. Friday follow-through gives us reason to believe many of these stocks will continue to move higher this week.

Software Stocks

Microsoft (MSFT) is on the watchlist this week. Everything about this chart suggests we should start trending if this breakout resumes today. Look for a little weakness for entry. Perhaps a bull flag during the Opening Range or an ABCD pattern.
MSFT 03-12-2018

Watchlist Ranked by Performance

I’ve taken the liberty of ranking these stocks by focusing on Friday performance. Industrials are showing institutional footprints as well.

Watchlist performance

We also like the restaurant stocks. With Friday job numbers beating expectations, we assume the workforce will be spending some of that cash on dining out. Watch the consumer discretionary sector as well.

We’ll be LIVE at 9:20 AM to discuss the markets.

Good luck and Happy Trading,


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