I don't like doing TA on leveraged ETFs generally, but you can get a good idea of what's going on. Using SMH for semis would be better, if I were using fib ratios I'd definitely use an unleveraged product for charting.
Chart text repeated here: potential reversal area, might be able to squeeze another 7% out of the current rally, would wait to go long on a 100/200DMA break.
Also could be a nice SOXS short if we break down out of the reversal area.