The S&P 500, being tech-cap weighted, has not yet broken down despite selling in tech-oriented aspects of the market, and its cycle analysis shows it's still in a larger diamond pattern.
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askSlim Market Week Brief 07/10/26 - Analysis of Financial Markets
Jul 17, 2026
This market brief discusses a sharp sell-off in semiconductors, with key leaders like Marvell (MRVL) and Alab (ALAB) down significantly despite a strong quarter from TSMC (TSM). The brief also covers a major sell-off in South Korea's Cosby index, driven by margin calls, and a move into safer haven assets like ABT and UNH amidst ongoing tensions in Iran. The discussion will delve deeper into semiconductors and the Cosby, focusing on cycle analysis and indicators.
Linked Mentions
Tickers discussed in this post
Intel is experiencing a pullback after a sharp move up, with a potential one-bar rally followed by a left-hand translation.
Micron, a previous standout, has shifted from strong upward translations to a potential bearish translation, with key levels to watch for confirmation.
AMD is in a trading range, with indicators showing a weakening bias and potential for a move to the lower end of the range.
Exxon Mobil (XOM) is among the energy stocks being followed due to rising crude oil prices amid tensions in Iran.
Chevron (CVX) and other energy stocks are being followed due to ongoing tensions in Iran driving up crude oil prices.
UnitedHealth Group (UNH) is showing strength with a nice bid to the upside, reflecting a shift towards safer market assets.
Abbott Laboratories (ABT) is seeing a nice bid to the upside, indicating a move into safer haven aspects of the market.
TSMC (TSM) reported a blowout quarter, but the positive reaction was largely priced in, with the stock seeing a huge move up.
Alab (ALAB) was highlighted as a semiconductor leader that experienced a significant sell-off this week.
