Trendline to watch!!!! Indeed, the “SOX” semiconductor index, known as a leading indicator, seems to be showing signs of weakness. Although it has returned to its uptrend line, we can still be wary of Wolfe waves which indicate a possible breakout. Not to mention that major components like “Intel” or “Nvidia” are either very high and overvalued (Nvidia), or have experienced a fairly phenomenal series of consecutive increases (Intel). Breaking the uptrend could be a negative signal for technology and especially for the market as a whole.