Semis slump, but one trader is betting on a breakout (via TradingNation)
"In the last six months or so, we're seeing a period of consolidation which has lower highs, higher lows. At some point, the indecision will come to an end.
And usually, the trend that was in place prior to the consolidation will continue, and that should push us out of consolidation," Gordon told CNBC's ""You're actually going to see a little bit more strength in the semis as we keep pushing up against that upper resistance ceiling right around the $122 mark so once we get consolidation broken, coming to a completion, ready to move higher, I think the semis are well positioned to lead us out of there," said Gordon.
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