Image Source: Pixabay

I couldn’t help but notice the island reversal pattern that just took place in the semiconductor sector.

This was exhibited by the ETF, above, as well as the underlying cash index, below. It wouldn’t take much to wreck it (that is, the price would just have to slip above that line again, which was Tuesday’s low price), but – – keep an eye on it!

It’s largely at the mercy, as all of us are, of Nvidia (NVDA), which seems to just keep putting new notches in the bedpost every night.

I took profits on my SMH short today during the crazy “V” bottom, but I got stopped out of my AMD short. At this point, I am short merely one semi company, ON.

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