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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (8342)	7/30/2001 1:53:27 PM
From: Sully-	Respond to of 209892

12:51 ET Sector Watch: Semiconductor : -- Technical -- Semiconductors are beginning to show some promise in terms of the intermediate-term outlook. Currently trading at 609, the SOX has cleared its 100-day simple moving average at 603 this morning and is well within striking distance of both its 50-day moving average at 610, and its 200-day moving average at 627. The real level to watch from a technical perspective is around 620 as this has served as a pivot point several times over the past six months. Though the SOX is nearing overbought readings on a few near-term indicators, the recent double bottom carved out in July represents a bullish chart pattern for the index in the intermediate term.