· Technically OverextendedïŒAfter 15 straight up days, a pullback is highly probable. The SMH ETF's RSI is in the high 60s and approaching overbought territory. Twitter sentiment shows many traders calling for a pullback to the $450 support level. A break below the pivot low of $460.36 would signal bearish momentum.
· Supply Chain Risks (Samsung)ïŒSamsung is facing a mass worker leave and a potential 18-day strike next month, which could impact global memory supply.
· Geopolitical & Valuation ConcernsïŒThe US-Iran ceasefire extension is positive, but tensions remain. The SMH ETF's P/E ratio of 35.18x is "relatively high compared to historical averages," suggesting potential overvaluation.
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