Don't Ignore This Chart!

Semiconductor HOLDRS Fails at Key Retracement


The Semiconductor HOLDRS surged at the beginning of last week, but hit resistance from the same retracement and plunged this week. The 62% retracement marked resistance in late March and again in early April. Today's gap down and trendline break are negative with a big support test at 33.5 looming.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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