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Semiconductors are the center of attention for the AI cycle. I’ll try to tune out the noise and follow the price action on this chart. The information I am willing to focus on: 1) $SMH - VanEck Semiconductor ETF daily chart is consolidating in a range and may form a symmetrical triangle. 2) It is currently finding support at the lower boundary, which lines up with the 200 day EMA, the main trend setter for me.

Cybersecurity is one of the hottest sectors this year, and $CRWD / $PANW ratio chart is testing the upper boundary of a year long range in the daily chart. Let’s see if there is going to be a breakout or a continuation of the range bound activity.

$GOOG / $SPY update!

$ACWI / $GLD - A breakout would signal global equities outperforming gold.

$SPY / $GLD update!

$SMH / $SKYY - VanEck Semiconductor ETF vs First Trust Cloud Computing ETF daily chart is breaking the neckline of a H&S top. Semiconductors divided by cloud. Is this a potential rotation from semis into cloud within the AI cycle?

$KCCA (KraneShares California Carbon Allowance Strategy ETF) tracks California carbon allowance futures. Weekly chart formed 20 month-long ascending traingle chart pattern acting as a reversal after aprior downtrend. California is cutting the number of carbon allowances available by 11% per year through 2030, up from 4% before. Fewer permits, same number of emitters who legally need them. Less supply and ongoing demand could support higher futures prices over time. The triangle may be pricing that in.

$US10Y real yield weekly update. After the symmetrical triangle breakout, the yield pulled back and is finding support at the pattern high. If this continues, pressure on precious metals and long duration equities would increase.

$IJH - iShares Core S&P Mid-Cap ETF daily chart formed a 4 month-long H&S top. If it breaks out above the right shoulder (74.35), the pattern acts as a top failure. If it breaks below the neckline (71.55), the pattern acts as a top reversal.

$RDVY - First Trust Rising Dividend Achievers ETF daily chart formed a 3 month-long H&S top. If it breaks out above the right shoulder (80.43), the pattern acts as a top failure. If it breaks below the neckline (78.44), the pattern acts as a top reversal.

$XSW weekly chart. B/O Alert!