Argus

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Jun 04, 2026

Intermediate Term

Long Term

Summary

The stock market was smacked a bit on Wednesday, but the major semiconductor ETFs (SMH and SOXX) still rose 0.9% and 1.8%, respectively. So maybe there's nothing to worry about. Crude oil (WTI) popped another 2.5% in late-day trading to $96.40/barrel, while Brent rose just over 2% to $98/barrel. If WTI breaks above $100 looking out a week, it will bust through the declining trendline off the peaks since April 7. That would most likely nullify a bearish diamond top and open the door for anothe

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