Don't Ignore This Chart

Semiconductor ETF Tests Two Key Moving Averages SMH

After a big surge above 33, the Market Vectors Semiconductor ETF (SMH) peaked in mid August and declined back to support in the 32.50 area. Support here stems form broken resistance, the rising 200-day SMA and the rising 50-day SMA. A successful test and break above 33 would be bullish. Failure to bounce and a break below 32 would be bearish.

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