By -

The good performance of Micron (MU) as one of my shorts got me to thinking……

I hadn’t looked at the ETF for semiconductors, symbol SMH, in a while (its components are listed here). I’ve mentioned its diamond pattern in the past, but here’s an updated look.

A decade-long view offers more perspective. If this is indeed a diamond reversal pattern, the prospective price target is quite a ways down (see horizontal line on the chart).