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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (110685)	12/28/2004 11:50:48 AM
From: The Freep	Read Replies (2) of 209892

So, I'm looking at a few semi charts... BRCM looks like it's breaking a recent downtrend line. MXIM looks like some bizarrely long consolidation that seems to have lost downside momemtum. INTC still has that nice looking inverse H+S on the dailies that points to 30. The SOX and SMH have bounced off the dread 50 dma <g>, and both have indicator soups that are largely pointing up from the lows of last week. It would not take much up in that sector to make me bullish on it from here, and I say again that as extended as this rise has been, if bios and semis are breaking out in concert, this move up will probably trap a lot more bears than not. Added to your SPX comment, Shack, it means that bears have to be as attentive here, or more so, as the bulls. the freep

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