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Euphoria Is Back In The Semi’s, This Is Where I Short

The Semiconductor ETF (SMH) continues to be strong after Apple (AAPL) received some upgrades (semi’s are the supply chain for iPhone’s). As the SMH surges higher, a gap fill looms large on the daily chart at $117.65. Once achieved, I plan on buying the SOXS (3x Short Semi ETF). I am a believer there is still weakening to go in the global/domestic economy and the semi’s are over-priced. With an overbought SMH and the technical gap fill, this is the spot. I Look for as much as a 25% correction in most semiconductor stocks from this level.