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September 30, 2005
Software HOLDRS Locked in a Range
As the single biggest industry group in the Nasdaq, Software exerts a lot of influence and should be watched clues on Technology in general. The Software HOLDRS (SWH) formed a triangle that extends back to the late June low. This neutral pattern shows a lot of indecision and I will be watching 37 for an upside breakout and 35 for a downside break.
Posted by Arthur B. Hill at September 30, 2005 08:17 AM