The semiconductors held together in Asia on Wednesday, with the Korean KOSPI managing to bounce over +3%, following its 10% rout on Tuesday. However, after almost doubling in less than 3-months we believe it’s time to be pedantic towards this volatile and high-flying index, though the read through from Micron’s result will be a positive one in the short term.
- We can see the SEMI ETF retreating towards $40 in the coming weeks, a minor pullback in the scheme of things.
MM is bullish towards the SEMI ETF back around $40
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