$SOX/SMH - weekly chart shows upside break above the downtrend line drawn off the July
2007 high. $SOX hit my first target of 290. Weekly CCI trend went green for the first time
since it went red in 2006. Next target range looks like 304-312 with 266 acting as weekly
support. Another obvious level of resistance is the neckline of a broken H&S pattern near
335. Price is above 13,26,and 52 wk mavs, 13 is above 26 and 52 and ticking higher. Only
52wk has not turned higher yet, but did provide support at this week's lows.
2007 high. $SOX hit my first target of 290. Weekly CCI trend went green for the first time
since it went red in 2006. Next target range looks like 304-312 with 266 acting as weekly
support. Another obvious level of resistance is the neckline of a broken H&S pattern near
335. Price is above 13,26,and 52 wk mavs, 13 is above 26 and 52 and ticking higher. Only
52wk has not turned higher yet, but did provide support at this week's lows.
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