“Pockets of Strength in "Rotational Market" as Crude Oil, Yield Swings”
SMH is in a bull flag pullback; breaking below ~492 to the 50-week MA signals significant weakness.
I want to go back to the semiconductor trade though. If you go to SMH, we do have that chart. Once again, just a little bit of a bull 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 concerned 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.