SMH breaks though support on increasing volume

Jul 30, 2024

SMH opened up selling off and continued to sell off through multiple periods.

• Broke through support
  
• Continued selling through multiple periods
  
• Increasing volume while selling
  
• Broke current upward trend its been on since May
  

Expect to see more selling to come

Aug 1, 2024

Note

- The day after created a huge rally which gave a strong impression that the downward trend had changed.
- Today, that proved to be a false breakout and the entire day was spent selling off back down to the levels it was when this post was created.
- After are currently showing more selling to come.

- We have entered into early August which can be the beginning of a market sell off with September generally being a bad market month