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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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To: Gottfried who wrote (49153)	8/27/2010 11:50:01 AM
From: Return to Sender	5 Recommendations Read Replies (1) of 95572

It would be unusual for the market to not rally counter trend here despite INTC lowering their outlook and so many concerns about a double dip in the economy. The SOXM shows no volume but you can see it was turned back on the Monthly Chart at previous highs for the RSI: All the major indexes had approached RSI strength as low as 30 in the last couple of days. SMH Daily Volume already showing signs of being better than average on this so far up and rallying day: Volume will be the key here as to whether or not we get a lasting rally. First off it needs to be higher today than the average down day lately. That will probably happen. In addition it would be nice to see a 9-1 upside day for the Dow and Nasdaq too. Probably too much to ask in my humble opinion. So I would expect that ultimately we get a rally here that rolls over going into September. We could then form a really good bottom although it may not happen until October. JMHO, RtS

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