My guess is that a Black Box sell signal on the $SMH daily is coming up pretty quickly. It’s best to not outthink the Black Box, as it hasn’t given a sell signal just yet, and there are usually multiple signals within a short period. Not always. And of course, the Black Box has been known to make a bad call now and then. I have the trading bruises to prove it, too.
On the weekly, the $SMH remains on the sell signal.
The market is leaving the friendly confines of the 401(k) additions that happen the first few days of the month, too.
FWIW