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The $VIX and S&P 500 were both in the red today. The Semiconductor ETF ($SMH) experienced a decline, with indicators like the weekly MACD signaling a downtrend. Market analysts note a significant drop in $SMH for April, continuing a pattern of weakness in recent years. Despite some daily support, concerns about a potential gap fill area for $NVDA and geopolitical factors affecting tech earnings weigh on the semiconductor sector.
$SMH still red today… 🤔
The Semis Are the Tell The $SMH is down 7.7% for April, continuing a pattern of weakness for the month of April. It was lower by 6+% in 2023, -14% in 2022 and down less than 1% in 2021. Going all the way back to 2000, it is extremely rare to see it down more than 10% and usually…
$SMH … key moment for the Semis Some good daily support here but have now left a bit of a #Wall back at ~220 $NVDA gap fill area 823’ish #Israel has likely agreed with DC/Street to hold off any further action until after big tech earnings. Thats about half jest https://t.co/lime0XiK0a