AMEX:SMH   VANECK VECTORS ETF TRUST SEMICONDUCTOR ETF
SMH has been leading the market bullish setting a higher high in April far in advance of the general index's. With current momentum pointing higher and with a strong upward trending stoch the 1.618 fib extension seems in reach. The may pullback has experienced a bullish reaction bouncing out of the high volume area of the volume profile . With price so high in the price channel a significant following correction seems likely retesting this consolidation area which will coincide with the 200wma.

The yellow feed is the price action from July 2009 to Nov 2011 which has some interesting similarities to today.
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