Stock Market Commentary: Unfufilled Promises

Buyers with a longer time frame will look to the 200-day MA for low risk long-side opportunities.
The Semiconductor HOLDRs (SMH) are likely to test the breakaway gap. True breakaway gaps don't fill so anything below $20.75 puts the bullish picture at risk.

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.




























1 Comments:
"The Semiconductor HOLDRs (SMH) are likely to test the breakaway gap."
What gap ? That's an hourly chart; there was no gap on the daily chart...not even close to one.
If one defines gaps in this (intraday) manner, one could even have "gaps" when you have inside days on a daily chart.
Regards,
dave
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