Internet Tek Stock Sector Continues to Motor Higher

By: Mike_Paulenoff

The Internet sector and ETF (Amex: HHH) continue to motor higher... led by Amazon (AMZN) and eBay (EBAY). Let's notice that today the HHH has climbed above its prior rally peak at 61.65 on 9/06 and is posed to continue higher to confront the May-Sept resistance line, now at 62.40, which should be hurdled on way to a full-fledged test of the May high at 63.93. At this juncuture only a decline that breaks 59.40 will compromise the developing bullish pattern.

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By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction

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