Early leadership from Semi -SMH- takes a little breather (TECHX) 37.96 +0.15 : The sector ETF gapped up on the INTC guidance and filled Friday's gap but stalled after a minor push back above its 50 sma at 38.25 (session high 38.30)-- INTC has pulled back from resistance noted in the 09:39 update. Intraday support for the SMH is at 37.90 (pullback low thus far 37.93) and 37.79. A breach of the latter (Friday's midday bounce high) would raise concern about the ability to sustain early momentum.
Caspermick
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