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New Recovery Upleg Signalled for SMH


Monday March 24th, 2008
New Recovery Upleg Signalled for SMH
by Mike Paulenoff www.MPTrader.com
New Recovery Upleg Signalled for SMH
By Mike Paulenoff, www.MPTrader.com

Breakout above 30.00 for the Semiconductor HLDRs (AMEX: SMH) is a very constructive sign and should signal the emergence of a new recovery upleg off of the January low at 26.54 that projects to the 31.50-32.00 target zone next. Components ADI, INTC, AMAT, NSM, among others, exhibit very positive chart patterns that should help propel the SMH higher in the days ahead.

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