The streetTRACKS Gold Shares (GLD) is under pressure with the entire commodity complex, but the weakness has not inflicted any meaningful damage to the overall dominant uptrend.
Mike Paulenoff's overall work leaves little doubt for him that today's thrust is the final upleg in the August-October advance for the S&P 500 Depository Receipts (SPY).
The S&P Select Energy ETF (XLE) is at a crossroads right here. Although the bullish scenario is Mike Paulenoff's primary view, he is also aware that after the next new high, he's expecting a very significant corrective period to emerge.
Mike Paulenoff thinks the Semiconductor HOLDRs ETF (SMH) may be heading for an upside breakout that will be precipitated by strength in Intel (INTC), Applied Materials (AMAT), and Analog Devices (ADI).
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