Monday, April 23, 2007 8:34:32 AM
SMH - $SOX 7yr Resistance & 7mo Trading range
We have TXN report in AH. SMH initially broke above the 7mo trading range. We have hammer formation suggesting a top; however, with good market sentiment to the TXN earning report, we may see a follow-through the breakout.
TXN is trading at strong quantile top formation as we can see that it attempt to breakout in Sept 2006, but failed. TXN trading above 35 will confirm the $SOX - SMH breakout.
We have TXN report in AH. SMH initially broke above the 7mo trading range. We have hammer formation suggesting a top; however, with good market sentiment to the TXN earning report, we may see a follow-through the breakout.
TXN is trading at strong quantile top formation as we can see that it attempt to breakout in Sept 2006, but failed. TXN trading above 35 will confirm the $SOX - SMH breakout.
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