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The semiconductor sector has shown relative strength recently, as it has been one of the top ten sectors we follow. However, on Friday this sector showed relative weakness as it closed near session lows. The strongest ETF in the semiconductor space has been the Market Vectors Semiconductor ETF. Nonetheless, it too on Friday, sold off to close near session lows. SMH could offer a buying opportunity into a pullback at the its 200-day, 50-day and 20-day moving averages. We will be following SMH closely for a possible buy entry.

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