Short Semiconductor ETF on the Move
Mid-Day Minute for Thu January 28th 2010
by Mike Paulenoff, www.MPTrader.com
by Mike Paulenoff, www.MPTrader.com
Be alerted when Mike posts an article
The UltraShort Semiconductor ProShares ETF (NYSE: SSG) has rocketed to the upside after today’s early weakness, and is set to put in a key upside reversal day. If at today’s close the SSG is above 20.71, the key reversal will be satisfied, which likely will coincide with the start of a new upleg that projects to 23.20. Beyond the reversal, let’s also notice that today’s lift-off occurred from the 50 DMA, which adds a bit of muscle to the upmove.
