$SMH Is at a Crossroads With a Bounce in Play
$VanEck Semiconductor ETF(SMH)$ is sitting in an interesting spot.
After the recent weakness, today’s candle showed some hesitation right around the lower Bollinger Band. That kind of price action can leave room for a tactical bounce before the next bigger move takes shape. 👀
The gap above is the level I’m watching first. If price starts moving toward it, that could keep $SMH stuck in another choppy session rather than giving us a clean directional move.
But the downside levels still matter.
⚠️ No bounce and the pressure can build quickly toward 520, with 508 becoming the next level to watch.
So for now, I’m keeping it simple:
📈 Bounce from the lower band → watch the gap
🌀 Gap pull → expect more chop
📉 No bounce → 520, then 508 come into focus
$SMH doesn’t need to make the decision immediately. Let price show which side has control first.
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