Breakout in semiconductors just beginning

Arguably semiconductors are one of the most cyclical subsectors.  If we are indeed observing a new shift in to cyclical offensive sectors, semiconductors should lead the way.  And they seem to be doing just that after going nowhere for 19 years.  It looks like we're in the early stages of leaving this 2 decade base and moving toward the 1.618 Fibonacci extension where I expect some consolidation will occur.

This is a very volatile technology subsector and is often difficult to hold.  My favourite ETFs in this space are SMH and XSD.

Nasdaq 10000 by the end of 2020? 2.618 Fibonacci extension target is ~13000

It has been a while folks.  Anyway here goes:

I think the Nasdaq is going to leave the 1.618 extension of its 2000 high behind and head to the next extension level (2.618).  Rounding the 2000 high to 5000 and the 1.618 extension to ~8100 (which we have been trading around since Feb 2018) the 2.618 extension would bring us to approximately 13000.

It took the Nasdaq 18 years to reach the 1.618 extension level.

The 2000 - 2015 Nasdaq base is gigantic.  It's possible that the breakout has just begun.