Yulia Slavina

Craig Shapiro: Chip stocks show oversold bounce as energy becomes key macro driver

Craig Shapiro: Chip stocks show oversold bounce as energy becomes key macro driver
Chip rebound and energy seen as macro event

Craig Shapiro highlights that semiconductor stocks are experiencing a technical bounce, suggesting they are currently oversold and could revert to the mean.

However, he cautions that this recovery is fragile, with potential risks from unexpected developments such as a major capex miss by Alphabet or geopolitical tensions in the Hormuz region. Additionally, he observes that energy has evolved into a significant macroeconomic event.

Shapiro previously reported on a 10% crash in the KOSPI that led to Nasdaq futures falling 3% pre-market, with dealers positioned long gamma at cyclical lows, as detailed here. He has also described a bearish technical setup for Bitcoin, referencing multiple bear flag formations across several timeframes discussed in a recent analysis. These observations come amid ongoing attention to technical signals and positioning across asset classes.

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