Nick Perry (Schaeffer's Investment Research) submits:
Three weeks ago I discussed the Telecom HOLDRS (NYSEARCA:TTH) as the fund was pushing into resistance. Two weeks ago I touched back on the telecom sector, noting that the iShares Telecommunications Sector Index Fund (NYSEARCA:IYZ) was pushing above resistance. Here are the updated charts:
The IYZ has now established its first monthly close above resistance, and this week's gains puts the TTH in a position to follow suit. Given the apathy towards telecom that I discussed two weeks ago, this might be a group to keep an eye on.