- Technical Market Commentary -

September 23, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of the Semiconductor HOLDRS Trust ETF (AMEX: SMH) have been performing poorly since they reversed in a strong correction back in late April, 2010. While most sector ETFs are well above their 50-day, as well as 200-day, moving averages, Semiconductor HOLDRS remains beneath both. In fact, the 50-day moving average is well below the 200-day average, indicating the possibility that SMH remains in its correction.

It would take a close above $27.25 for this widely traded ETF to be attractive and have the potential for a lasting advance. Even then, there is strong resistance at $28.75 which stopped previous rallies in June and again in July.

(Go to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby+cmmtry for more of Kollar’s commentaries.)

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Disclosure: Frank Kollar’s Fibtimer.com (http://www.fibtimer.com/) ETF Timing Strategy holds a position in Semiconductor HOLDRS.

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