Verified InvestingPublished 2026-10-01
“Yields Hit Banks as Head & Shoulders Patterns Trigger”
$SMHBullish
SMH breaking out of parallel channel; close above today's candle flips resistance to support, targeting $635.84.
SMH up over 1%. That was really having tailwinds from earlier this week when we had economic data that showed that the uh PCE, which is the inflation gauge for the Fed, that is coming in a little bit cooler.
Plus, we've got hot jobs reports, which is giving room for the Fed to go ahead and hike rates.
What they said to watch for