SMH Semiconductor ETF Bullish

Now that the Semiconductor HLDRs (AMEX: SMH) has held its 200 DMA (at the end of March) and has hurdled its 50 DMA at 34.21 today, in the aftermath of a messy sideways "EKG" pattern from the October high at 35.95 to the October low at 33.15, it is time to enter a long position for what I expect will be a new upleg that takes out 36.00 on the way to 37.50-38.00. The fact that SMH components TXN, AMAT, INTC, ADL and KLAC all have very promising chart patterns suggests strongly that the SMH should participate in a very strong advance. Only a decline that breaks 33.00 will destroy the emerging pattern.