Mike Paulenoff comments on the volatility of the last three sessions in the Oil Service HLDRs (OIH).

A big drawdown in gasoline inventories has triggered a powerful intraday upside reversal in the OIH.

Mike Paulenoff is going long the SMH Semiconductor ETF now that it has hurdled its 50-day moving average.

Today’s decline of about 1% in the Oil Services HLDRs (OIH) represents a minor pullback after yesterday’s key upside reversal.

The larger pattern in the QQQQ from the March lows remains relatively constructive, which makes Mike Paulenoff defer to a bullish posture for now.

Today’s decline in the major equity market ETFs triggered an inverse surge in the QID's, but so far the resistance area has contained the weakness.

Since Friday's recovery rally high at 143.81, the S&P 500 SPDRs (SPY) have carved-out what looks like a sideways, coil-like congestion area.

Today's weakness in the iShares Dow Jones Real Estate Trust ETF (IYR) in reaction to disappointing New Home Sales data leaves behind what looks to be a completed recovery rally pattern.

The iShares Lehman 20-Year Treasury Bond (TLT) is declining towards a test of the 50-day moving average, now at 88.64, which if violated, should trigger downside follow-through.

The streetTRACKS Gold Shares (GLD) are at the high of the day and moving up through the gap area.