Semiconductors Maxed Out, 40% Downside Likely, The Top Is In
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In this brief video, I analyze the weekly chart of the semiconductor ETF (SMH). Based on the 200 weekly moving average, the semiconductors topped out in the last week and are likely headed lower by 40%.
This analysis shows how each of the last bull runs on the ETF have extended above the 200 weekly moving average by 102% before collapsing by +40%. The ETF in the last week got above its 200 weekly moving average by 102%. Probability dictates the top is likely in for semiconductors, and possibly the market as well.
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