The SOX Semiconductor Index finished the week with a 4.74% decline and a very long shooting star candle. Semiconductor stocks such as AMD, Micron, and NVIDIA also ended lower with similar candles for the week. Typically, a sharp decline would be expected to follow this type of candle. But, the Fear & Greed cycle has already moved into the Fear category, as it did in late 2022. It hit a low of 35 on December 30, 2022 before the S&P500 and NASDAQ started moving higher. At this point a brief decline would be expected before markets start moving higher.
Note that this information is for educational purposes only and not a recommendation.
Stock charts courtesy of StockCharts.com.
