member @lkeno inquired if it appears that the SMH (semiconductor ETF) is ready to break down soon. SMH continues to grind higher within this bearish rising wedge pattern just putting in the 3rd consecutive divergent high. Although each the previous divergent highs did result in a correction, due to where prices are in proximity to the apex of the wedge, it would appear that the next correction is likely to cause a breakdown below the rising wedge, thereby triggering a more powerful & lasting sell signal.
SMH daily Jan 26th