SEMI MANIA BACK TRACKS ON OPENAI MISSING TARGETS, OIL RISES AWAITING TRUMP, U.A.E. QUITS OPEC
By Nigam Arora
To gain an edge, this is what you need to know today.
Pressure From Oil
Please click here for a chart of leveraged semiconductor ETF (SOXL).
Note the following:
- The chart shows the semiconductor mania is backtracking.
- The chart shows the Arora signal to take partial profits on semiconductor ETF (SMH) yesterday in the premarket near the top before the pullback. There were also signals from The Arora Report to take partial profits on Intel (INTC) yesterday and on Advanced Micro Devices (AMD) on Friday.
- RSI on the chart shows SOXL is no longer overbought. When anything becomes as overbought as semiconductors had been, there is usually a trigger that becomes an excuse for a pullback.
April 28, 2026