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BPI/Sector Scopes Monthly Update & iShares PHLX Semiconductor Index Fund (SOXX)

Between the end of the quarter, the start of summer and holidays in the US and Canada, the last week has been one of the quietest for equity markets in a long time. The coming ten days, however, have the potential to be quite different, as we move into July earnings season which historically has seen equities bounce back from spring corrections. In this issue of Equity Leaders Weekly, we take our monthly look at the Sector Scopes feature, and at what recent gains for the semiconductor sector are telling us about investor sentiment.

Oracle Corp. (ORCL)

Oracle Corp (ORCL) has returned to the Green Favored Zone in the SIA S&P 100 Index Report for the first time in nearly a decade, since 2011 after climbing 4 spots yesterday and 8 spots in the last week to 34rd place. Since the start of this month, shares have been attracting new interest from investors, rallying up off of their 50-day moving average on increasing volumes. Yesterday, the shares staged a major breakout, blasting through $85.00 to a new all-time high, completing a bullish Ascending Triangle pattern and signaling the start of a new upleg.

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