Friday, January 14, 2011

Updated Technical Picture on the SMH's ...

It took a long time for the SMH’s to get above the resistance near $ 32.00 (red line) – 3 years to be exact.  That said shares are still in an uptrend as evidenced by the up sloping trend line (green line).  We would be holders unless the broke down below $ 32.00 on heavy volume.  The only negative in this picture is that volume or sponsorship if you will has declined as the rally has moved higher …

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