SMH (semiconductor holders) is having a rough time with its 200 ema at 34.30. Nevertheless, it found support today just above July 3rd high of 33.43, and that still keeps the rally alive.
INTC expectations was to cut 20K jobs, they only cut 10K and that might be a drag on the stock tomorrow and semis in general. We wait and see. SMH breakout above 34.30 is bullish for techs and breakdown below 33.50 signals the end of the August rally.
INTC expectations was to cut 20K jobs, they only cut 10K and that might be a drag on the stock tomorrow and semis in general. We wait and see. SMH breakout above 34.30 is bullish for techs and breakdown below 33.50 signals the end of the August rally.
This entry was posted
on Tuesday, September 05, 2006 at 6:22 PM.
