$SMH and $SOXX both down 5 straight days. If they drop tomorrow, that's the longest losing streak since May 2025.
Semis getting hammered. This is either capitulation setting up a bounce, or the start of something uglier. Watch for a reversal candle tomorrow—if we get a hammer or engulfing pattern, that's your long setup. If we gap down and continue bleeding, the trend isn't done yet.
Key levels: $SMH needs to hold support around recent lows. Break that, and we're looking at another leg down. $SOXX same story.
If you're trading this: don't catch falling knives. Wait for confirmation. A 5-day streak is extreme, but extreme can go to 7 or 8 in a real flush. Let price tell you when it's done, not your gut.
Semis getting hammered. This is either capitulation setting up a bounce, or the start of something uglier. Watch for a reversal candle tomorrow—if we get a hammer or engulfing pattern, that's your long setup. If we gap down and continue bleeding, the trend isn't done yet.
Key levels: $SMH needs to hold support around recent lows. Break that, and we're looking at another leg down. $SOXX same story.
If you're trading this: don't catch falling knives. Wait for confirmation. A 5-day streak is extreme, but extreme can go to 7 or 8 in a real flush. Let price tell you when it's done, not your gut.