THE SEMIS

At this juncture, the SEMIS are the most important group to watch. As they go, beta goes. SEMIS are very strong today. You can see the 1020 breakout and support has held for now. If it continues to hold, we give very little chance for the “market” to further break down. That does not mean we are off to the races. It may just mean we stay in range. For bulls, very important action in the SEMIS here. The SOX is still below the 50 day but is now trying to rally up into it.  Beta having a good day early on.