SMH about to breakout

NASDAQ:SMH   VanEck Vectors Semiconductor ETF
SMH (the Geek) was resting in the small 4 day week moving laterally but was ready to breakdown on Thursday. But the jobs numbers on Friday being moderately light vs expectations made one more month of positive news for the market signaling "transitory" inflation . That was the turning point as mentioned in my last weeks report. An engulfing candle on Friday and an uptrend MACD makes this extremely bullish . After Fridays action, I see Geek moving higher as 3/4 of the stocks in the group got pummeled way under 21 day ema . This put those stocks this coming week trading above 8 day ema at least. Its possible that it can rest here for a couple of days as well.


Any updates on this?
@Spenxo, it really boils down to QQQ tomorrow. I think QQQ heads lower but catch a bottom somewhere between 356-358. When that happens, SMH will follow. Good luck!