It’s a great start to the week, and there is compelling action in a number of niches:

• Optical
• Neocloud
• Gold miners
• Bitcoin-related stocks
• Banks

But nothing looks better than semiconductors.

That’s because the Iran Conflict news isn’t the only driver of today’s action.

A report from Taiwan suggests the new Nvidia (NVDA) power architecture will enter production in the third quarter of this year – ahead of consensus.

That's great news for Technology (XLK) stocks in general, where even software names have put the brakes on their latest tumble.

The news is especially good for semiconductor equipment makers, which saw gains last week that were almost as spectacular as the New York Knicks' 4th quarter comeback.

So here we are again, watching growth and momentum stocks surge higher while the rest of the market mostly meanders.