Chips Pop At the Start of the Day

This morning, all of the leading semiconductors are trading higher to start the day. This leading sector has been very weak since topping out in late March 2012. Today, the important Market Vectors Semiconductor ETF (NYSEARCA:SMH) is trading higher by 0.42 cents to $30.31 a share. Short term traders should watch for intra-day resistance around the $30.50, and $30.75 levels. Please remember, the daily trend still remains down as the SMH continues to trade well below the important 50, and 200 daily moving averages.

Some leading semiconductor stocks that are trading higher today include Broadcom Corp (NASDAQ:BRCM), Skyworks Solutions Inc (NASDAQ:SWKS), and Sandisk Corp (NASDAQ:SNDK). Traders should understand that the leading semiconductor stocks will generally lead the overall technology sector.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

Visit: InTheMoneyStocks

Be the first to comment

Leave a Reply

Your email address will not be published.