Semiconductors Poised To Breakthrough Resistance

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November 9, 2005

Semiconductor stocks on the rise. Looks like a second leg will start in a few weeks.

The semiconductor stocks (SMH for the lazy) look poised to pop through resistance setting the NDX on fire imho.

Any case to be made for the short side here?

I haven’t seen any signal showing an extreme signal for the shorts yet. Usually we should get at least one and we have none. Yesterday seemed like a key down day to relieve bullish indicators oh so slightly and keep this current move alive.

Update (SMH is up nicely)