Are Semiconductors About To Take-Off?
Last week I wrote about the nice short setup in semiconductors, with a clearly defined risk stop at an important level. Let's look at the chart of the SMH (Semiconductor Holders Trust) ETF: When SMH found resistance at the 50 day moving average (yellow line) and started moving lower it looked like a classic 50% […]
Gold (GLD) Breakout
The GLD broke above $141 this morning, triggering a buy signal on our end. On the weekly chart below note the steady upward movement over the past few months (and obviously years as well) with nice consolidation periods here and there. On the daily chart note the consolidation pattern that started early March and […]
Today’s pre-market video is uploaded and ready to watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/