$SMH just hit a historic milestone—first time since 2000 that the 3-month Bollinger band is fully expanded. This isn't exhaustion, it's pure momentum.
Most tops show fatigue. Blowoff tops are rare. Semiconductors aren't tired—they're still running hot. This bull market in chips is moving with rare impulsiveness.
If you're waiting for classic topping signals, you might be waiting a while. The setup here is asymmetric—strength begets strength until it doesn't. Watch for positioning shifts, but right now this is a trend with legs, not a tired rally.
Most tops show fatigue. Blowoff tops are rare. Semiconductors aren't tired—they're still running hot. This bull market in chips is moving with rare impulsiveness.
If you're waiting for classic topping signals, you might be waiting a while. The setup here is asymmetric—strength begets strength until it doesn't. Watch for positioning shifts, but right now this is a trend with legs, not a tired rally.