NYSE new highs:lows 415/10 I know Peter only wants to focus on the SOX -which has been the leader, but as he well knows, other groups emerge and become new leaders. I would say in the history of the market, IT IS NEVER THE SAME STOCKS or GROUPS that are always the leaders in massive uptrends. Yes , semis are important, they are not the whole market. The leadership in the 1990's and through the 2000's changed dramatically. Nifty Fifty is greatest example of major leaders that fall to wayside in next market cycle. So, to focus on past leaders that exhibit weakness is just chasing a tail. Also, Im recalling how Peter slammed the NYA, the RSP, the DJIA, the equal weight NASDQ as all acting "so poorly "over the past 8 months,that his bearish view was "justified". Now that they have caught and surpassed almost all other indices, no mention of it. Just like the VXX for weeks and weeks was the focus until, a new shiny negative object was found.