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.
We also have large caps $Sox components such as INTC has the same formation as $SOX-SMH.
TXN is trading at strong top formation (nine tops near 35) as we can see that it attempt to breakout in Sept 2006, but failed. TXN trading above 35 will confirm the $SOX - SMH breakout.
Good trading ALL
http://www.stockchar...98557&r=872.png
http://www.stockcharts.com/c-sc/sc?s=$SOX&p=M&yr=10&mn=11&dy=0&i=p22616739083&a=80631671&r=966.png
http://www.stockcharts.com/c-sc/sc?s=$SOX&p=D&yr=0&mn=9&dy=0&i=p93451941454&a=71270540&r=427.png
http://www.stockchar...298551&r=78.png
$SSEC is making new high to 3710.89 while Futures are flat in premarket. $KOSPI also traded to new high to 1544.35 continuing to trade up after the breakout from 15yr resistance at 3050.
We would wonder whether US market will be the loser failing the breakout?
http://www.stockcharts.com/c-sc/sc?s=$SSEC&p=D&yr=0&mn=6&dy=0&i=p02439948996&a=66381250&r=667.png
http://www.stockcharts.com/c-sc/sc?s=$KOSPI&p=W&yr=3&mn=6&dy=0&i=p75413615740&a=94929938&r=190.png
Edited by Trend-Signals, 23 April 2007 - 07:49 AM.