Chips

Doesn't Larry Wilcox look like John Krasinski from "The Office"?

So far on Tuesday, the chips are making good on Monday evening's positive TXN report. Below is the SOX weekly, which clearly shows Tuesday's important break above 6-month resistance to a new 52-week high. Gotta love the upcurling MACD.

Apparently, it's going to take more than sluggish Asian and European markets, weak consumer sentiment and poor housing data to bring this market down.

In a familiar pattern, a day of earnings leaders stealing the show is followed by a day of laggards catching a bid. Overhead, the broader indexes paddle along. This is exactly the action that propelled the markets higher in Mar-Apr, so let's see if it continues to produce results.

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Up over 500.