It is not just Apple Inc. (NASDAQ: AAPL) that is being a thorn in the side of the technology sector. Semiconductor stocks aren't carry their weight, either. Perhaps chip makers are becoming dead weight.
Now, the lagging semiconductor space could be facing more declines as the widely followed PHLX Semiconductor Index is violating key technical levels. The PHLX Semiconductor Index is the underlying benchmark for the $388.3 million iShares PHLX Semiconductor ETF (NASDAQ: SOXX), an ETF that has tumbled 5.6 percent over the past month and nearly 7 percent this year.
“However, this month, moving averages not only broke several weeks ago but the averages themselves are now crossing each other to the downside. In the chart, the 10-week average plunged through the 20- and 30-week exponential averages and the 20- is on track to cross ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5735542/cashing-in-the-pot-on-chip-etfs alt=Cashing In The Pot On Chip ETFs>Full story available on Benzinga.com
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