Yesterday's break below ~$267.70 puts SMH on track to move lower towards the other side of the lookback periods (ORANGE & RED dotted line) at ~$255-$249.
Only a move back above $267.70 puts the bulls in control.
Given the way the S&P's are trading and the negative tape at large, I favor shorts in SMH.
Only a move back above $267.70 puts the bulls in control.
Given the way the S&P's are trading and the negative tape at large, I favor shorts in SMH.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.