Most of the major stock indexes have been trading higher today lead by an industry group that has been depressed as of late -- namely, the important semiconductor sector. The Market Vectors Semiconductor ETF (NYSEARCA: SMH) has been steadily declining on the daily chart since early August 2012. Today, the SMH looks to be catching a small bid trading higher by 0.22 cents to $30.82 a share. Short term traders should watch for intra-day resistance on the SMH around the $30.80, and $31.15 levels. The daily chart trend for the SMH remains down at this time trading below the important 50-day, and 200-day moving averages.
Some leading semiconductor stocks that are trading higher today include SanDisk Corp (NASDAQ: SNDK), Broadcom Corp (NASDAQ: BRCM), Qualcomm Inc (NASDAQ: QCOM), and Skyworks Solutions Inc (NASDAQ: SWKS) to name a few. While all of these stocks are trading higher today the daily charts still remain weak and vulnerable to further declines in the near term.