$SMH, the Semiconductors ETF, has shown a notable increase of 9.72% for the week, indicating strong performance in the semiconductor sector. Analysts are observing the ETF as it approaches its 50-day moving average, which is seen as a critical resistance point. There is speculation about potential price movements, with some traders highlighting that the ETF may need to consolidate soon, given the stretched conditions on the H1 and 65-minute charts. Additionally, traders are focusing on $SMCI, with current positions held at approximately 70% from the 520s level. There is optimism for a breakout at the $640 level, with targets set for $658 to fill a gap and potentially reaching above $700. The market's reaction to these levels will be closely monitored as traders assess the likelihood of further gains or a pullback.