The Semiconductor HOLDRS (SMH) continues to show relative strength as it surges to its summer highs. Reaction highs in June-July mark a resistance zone around 28.7. The indicator window shows the price relative (SMH:SPY ratio) bottoming in early September and moving higher the last 4-5 weeks.
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About The Author:
Arthur is Chief Technical Strategist at TrendInvestorPro.com. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician.
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