SMH held its ground above key support level
Today was an important day for semi conductors. In order to solidify a bullish pivot it needed to remain above a key support level.
- SMH held above key support
- lack luster moves across the market indicated indecision and caution amongst traders about the future being bullish or bearish
- This could mark the sign of a turn around to the upside longer term
- considering the recent rally and today's modest moves, this could be the distribution phase of the rally cycle which would mark a small pullback in the coming days
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