Not the best spot to try & get long semi's imo. NVDA reports tonight. I'm playing it short via SOXS. This way I won't get burned if NVDA doesn't fall hard & could possibly get a chance to add if NVDA goes up a little. Ultimately looking for SMH to test VWAP from October lows around $172.
This is a very long-term view of SMH. You can see the FIB that is in play which is anchored at $41 in December of 2018. We ran up all the way to just about $160 in December of 2021. We had a hard pullback to $84 and did a fast turn around, again to $160, in July of 2023.
We retraced almost perfectly to the 50% of that move to $136 and we are now in the uptrend...
The S&P500 broke out this week to new all time highs.
Finally playing catchup the nasdaq indices.
Semi-conductors continue to be the bright spot in the market.
10 year yield confims breakout.
many S&P sectors closed negative on the week despite the marekt making ATH's
Weekly chart, the formed chart pattern (Cup & Handle) has a target of 238, then 258 (after stabilizing above 240)
The stop loss below line R2 should be considered.
SMH has formed an Inverse Head and Shoulders Pattern. Looking for a bounce to 169-170 if it can close above the neck line. Trading this with SOXL if pattern confirms.
Wait for a pull back to the blue trend line before buying. A close below and the pattern fails. Best moves come from failed moves.
Cup & Handle Pattern The NASDAQ:SMH (Semiconductor ETF) is exhibiting a Cup & Handle pattern in technical analysis. This bullish continuation pattern involves a rounded bottom (cup) followed by a consolidation period (handle)....
The semiconductor sector has been on fire since bottoming out at the end of October. In fact, the low to the high in November was just over 21%! Some consolidation of those gains would be healthy.
I am looking for the NASDAQ:SMH ETF to fill the gap from Nov 14th. I am not predicting that it will however, I am thinking that is a good possibility. I have an alert...
The chart posted can now be posted and the ew labeling we have now ended or will end wave 5 of 5 of wave 3 top and begin a sharp drop in thr sox and smh back down for a week or more in wave 4 of 5 of 5 then The last wave up will end the rally from oct 13 th 2022 in super cycle degree and we will then see a drop back to .382 to 50 % from 2009 once more in...
The semiconductor ETF NASDAQ:SMH is currently trading at an all time high because of the belief that there will be increased demand for semiconductors arising from the applications of generative AI. However, on a fundamental level, semiconductor revenue has been dropping for the past five consecutive quarters ( Omdia ). In fact, in the first quarter of 2023...
$SMH:1D
Signal sitting just above the -3SD (136.46) and needs to reverse trend in order to maintain the strength of the longterm linear regression trend at 0.91 Pearson R^2. Given the strength of the multi-year trend, an attempt at an upward mean reversion to the 161.17 price region is not unreasonable to expect going into the end of the year.
I would expect...
### Technical Analysis Overview: VanEck Vectors Semiconductor ETF ( NASDAQ:SMH ) – Cup & Handle Formation on Weekly Chart
The VanEck Vectors Semiconductor ETF ( NASDAQ:SMH ), which tracks the performance of the semiconductor sector, is currently exhibiting a classic Cup & Handle pattern on its weekly chart. This pattern is a significant indicator in technical...
NASDAQ:SMH could be a big beneficiary "if" interest rates level out or even start dropping. This Cup w/ Handle formation is also about a 2 year base suggesting that if / when it breaks out, it could have a big run. All TBD.
See Notes on chart for more of my thoughts. Ideas, not investing / trading advice. Comments always welcome.
... for a 1.30 credit.
Comments: Adding another rung to my SMH position out in January at a strike better than what I have on in December at the 125, targeting the <16 delta strike paying around 1% of the strike price in credit.
... for a 1.27 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the underlying. I currently have a December 125 and January 120, so this is at a better strike than what I currently have on.
... for a 1.55 credit.
Comments: Adding a rung out in December to my SMH position, targeting the <16 strike paying around 1% of the strike price in credit to emulate collar cost averaging into the underlying.
Comments: Adding in at strikes better than what I currently have on (which seems to be a recent theme), targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Hi traders
Let's have a look at SMH.
We can see that bearish divergences has been formed.
Expecting a small bounce to the ressitance area shown on the chart (orange trendline) which would be an enty for short.
Target for shorts: 123 $
stop loss: 163,48 $
Do you agree?
Good luck
