Semiconductors (SMH) Remain the Weak Link within the SPY Sector Complex

Mike Paulenoff MPtrader

SMH-- let's watch price in relation to sharply declining 5 DMA, now at 107.44. The 5 DMA has put a lid on SMH strength since the beginning of May, and has "controlled" price direction. Let's see if that remains the case today as SMH challenges the 5 DMA, but still is unable to take it out, which keeps its downtrend intact and vulnerable to a press to test the 200 DMA, now at 101.41.

Author

Mike Paulenoff

MPtrader

Michael Paulenoff has been a student of and a participant in the world financial markets for the past 26 years, since his graduation from the Georgetown University School of Foreign Service in 1979.

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