The muted reaction to yesterday’s benign PPI report could be telling us that this rally is getting somewhat tired. That said, we’re going to have to see some actual downside movement before we can draw that conclusion.
The chip stocks have acted quite well this month. Broadcom (AVGO) has been the biggest move in that group recently, but there is another name which has also outperformed the biggest names (like NVDA and TSM). However, this stock is becoming quite overbought, so investors might want to avoid chasing it over the near-term.
