SMH is in a bearish trend; breaking below 492 would signal further downside toward the 50-week moving average.

I want to go back to the semiconductor trade though. If you go to SMH, we do have that chart. Once again, just Oh, yeah. I looked at SMH the other day. Let's go look at it right now. SMH. Yeah, not looking good. Not looking good. In fact, this is definitely in a bearish trend right now. Will it go down further? I don't know. We don't make predictions like that. we can just see what's going on and then trade around that. Now, it does have some support right here, right? You've got some uh you got a little baby block right here that's providing support, maybe even another uh bullish order block down here. Um but it's just not got the same move. Right? Back over here when the market was clicking, the sector was clicking, the stocks were clicking. Man, it was easy money. Over here today, not easy money at all. There are times when there is easy money in the market and then there are times like this where it's been going sideways and that's what we draw the boxes around and it's falling outside the box at this point. Right? It's been bouncing back and forth inside this box since August 4th. Now it's falling out the bottom under its 50-day. Now it's now squarely in the midst of this blocks area which is the same level that we saw all the way back on June 2nd. We're into September now. So very frustrating market. Absolutely. just a little bit of a bull back flag pattern that's taking place right now. A little bit of a pullback. If you break below 495, let's say 492, that's when you get a little bit more concern hitting that 50week moving average. I think that would be your your key area of support. And if not, and we break down, you have bigger problems within the market.