Jun 13

Semiconductors Appear Ready to Spring

The Semiconductor HLDRs ETF (AMEX: SMH) continues to grind higher and actually is trading above its May-June resistance line. Once again, the SMH looks to me like it is coiled ready to spring towards 37.00/25 next.
Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!