Intel (INTC) Important Price Resistance Area

  For the entire month of March and into early April it looked like semiconductors were trying to tell us something about their usually leading indicator ability, at least as it relates to ends of cyclical bull markets.  All of that changed however, and not when Texas Instruments (TXN) announced the acquisition of National Semiconductor […]

Intel (INTC) To Rally Much Higher?

After yesterday's large rally in INTC, the semiconductor complex almost completely destroyed a very bearish chart pattern in many semiconductor stocks, as well as in the SMH ETF.   The point here is not so much to look into the details of the daily chart but noticing how hard INTC bounced off the $19 area, […]

Semiconductors Are Messing With A Bearish Pattern

After announcing earnings last night, Intel is up almost 7% as of this writing today.  As such it has sparked a rally in the semiconductors that led the SMH ETF to break above its 50 day movnia average and above the key 61.8% Fibonacci retracement level.  Individual names like CY and AMAT still have their […]

Where We Stand: A Look at S&P 500 Sectors and Industries

  The S&P 500 is currently battling it out with the most immediate support ($1275 – 1300) and resistance ($1345) levels on the daily charts.  While investor sentiment is skewed to the bull-side, among the more active types (hedgies and such) the view seems to be more two-sided.    As such I thought it would […]

Pre-Market Notes – Tuesday March 29th

Pre-Market Notes – March 29th   With the SPX right at (but above) the 50 dma, yesterday was a bit of a lazy session.  Investors need some rest here to digest the wild swings from the past two weeks.  At the same time it is quarter end (3 trading sessions left) this week so I would think the swings […]

Semiconductors (SMH) May Trade Lower

After trading up in a nice and night upward channel from September 2010 until early March of this year, the semiconductors swiftly sold off by the tune of almost 10% in just eight trading sessions.  From quick move down, the SMH has now retraced (moved up) a little over 50%, which also coincides with the […]

Semiconductors Slipping Lower Again?

I talked about it much lately and it's a big topic in the steadytrader.com chat-room and newsletters.  Today AMAT and CY are slipping yet INTC is holding up well.  Be that as it may, the SMH is down 0.90%, which isn't much, but so far the 61.8% retracement levbel near $35.10 has held as resistance. […]

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% […]