Intel (INTC) just reported MONSTER earnings, sending the stock ripping over 25% to new highs and dragging the rest of the semiconductor sector with it! But is this a sign of strength, or the final stages of a Dot-Com style blow-off top?
In today’s episode of My Trading Game Plan, Chief Market Strategist Gareth Soloway breaks down the latest market-moving macro events. Oil fell $4 this morning on the heels of positive diplomatic news out of Iran, giving the S&P 500 the breathing room to push higher.
But the real story is in the semiconductors. As Intel triggers what could be the 18th straight up-day for the sector—taking names like AMD and Marvell along for the ride—Gareth is raising the alarm. With valuations priced beyond perfection and echoes of Alan Greenspan's "irrational exuberance," this massive surge could mark the ultimate blow-off top for the semi space.
Plus, why are tech darlings like Nvidia and Broadcom struggling amid the rally? Gareth dives into the rising competition, finite capital, and warning signs that Middle Eastern data center spending is beginning to slow down.
Gareth Soloway is a 27+ year veteran trader and world-renowned technical analyst known for accurately calling major tops and bottoms across stocks, crypto, and commodities.
