beginning of november. >> leaving us with an optimistic note even if it's just the short-term, matt maleyuch. >>> along those lines, it's time for tuesday rbi, and by the way, speaking of what matt was just talking about issue we have got a -- we have got a stat for you, check this out recent data shows 46 billion has been pulled from stock mutual funds and etfs as of last week, .44% of total market assets it's a big number. according to seaport, the other seven times we have seen that amount of money come out in december, the markets have rallied. in other words, maybe that draw down is a bullish sign, a reason w tus optimistic dofureare up, worldwide exchange is out. "squawk box" is next have a great day ♪ ♪ what if we could turn trash into money? plastic bank is doing just that, by exchanging plastic for digital credits redeemable for everything from food to education... powered by ibm blockchain. when you understand the potential of new technology, you can put smart to work. >>> good morning, the dow is on pace for its worst december loss in decades, in fact, going back to a time in t

we're joined by matt maley and stacy gilbert. tt, obviously semis, we've talked about them before they were a leadership in the nasdaq, going up into the highs in the spring, have given a lot of that back what do we make of these comeback attempts? >> well, it's funny because right now we are at a key juncture at least on a technical basis for this group as you mentioned, it's been a key leadership group in the past and it did top out several months before the xlk by several months the key is right now, as you mentioned, we've seen a little bit of a bounce and it's made a couple of minor higher highs and higher lows. that's good. the problem is it has to continue if you look at a longer term chart, it's made a classic rounding top it has the saucer formation. but this rounding top, if it breaks below the november lows of just a few lows ago, that's going to be very, very negative. the thing about this situation is that if you go back in time, it's not just the past year, this group has been a leading indicator for the entire tech