Semiconductors Leading

the way higher today as the gap lower in SMH was quickly filled and that market made it past important resistance at 17.00. The Qs have recovered more than 61.8% of the move lower from the election and is now headed for a test of the 50 DMA near 31.02 (it is declining by about a dime a day). The 50 DMA is only a level where there is potential for resistance, it is not an impenetrable barrier. Do not argue the logic of why the market is rallying, instead focus on the trends that make you money and manage risk.