Chip Stocks Quiet, but Looking Higher

The SMH (Semiconductor ETF) is acting a bit sluggish so far today, but, that not withstanding, the near-term pattern continues to point higher, and the price structure should accelerate once near-term resistance is hurdled between 37.15 and 37.25. My next optimal target is 38. Only a break of 36.80 will begin to compromise the timing of the expected upside breakout.