GTStockmaster

Breakdown of Semiconductors

Short
NASDAQ:SMH   VANECK VECTORS ETF TRUST
Simple view of this critical sector breaking through key technical trendlines .

Our first bearish sign was the break earlier in August, which held, and rallied back above the original broken trendline . That quickly stopped as momentum ran out, and it's now breaking through multiple trendlines with bulls at max long. This can potentially fall significantly given the overweight bullish positioning and the stretched overbought price.

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