July 26, 2011
Shares of the ETF Oil Service HOLDRs Trust (NYSE: OIH) are testing resistanceat $162 a share.
OIH has had a nice run up since its June 27 low, adding some 15% in the last month to close at $161.66 on Monday, July 25.
The 162 level is where the late April rally failed and needs to be surpassed to continue this advance.
If it is in coming days, look for OIH to make a run for its $165 rally highs reached back in early April.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy does have a position in the Oil Service HOLDRs Trust.