- Technical Analysis -

January 5, 2010 (FinancialWire) (By Frank Kollar) — Shares of Semiconductor HOLDRS (NYSE: SMH) have pushed above a strong resistance level in the first day of trading for 2010.

On Monday, January 4, the first day of trading this year, Semiconductor HOLDRS gapped open and closed above its 50% retracement level, at $27.93, for the entire 2008-2009 bear market decline.

This level was reached two weeks ago and even though the stock market had a Christmas week rally, Semiconductor HOLDRS did not manage to surpass it.

But Monday’s breakout forecasts continued new highs and Semiconductor HOLDRS should now reach the 61.8% retracement level up at $31.11 in coming weeks. This is 9.5% above Monday’s close.

The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Semiconductor HOLDRS.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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