SMH is still sideways after a 1.89% pop; if the range lasts two more days, a mature bear flag implies further downside, with support at the inclining channel bottom of $52926 and then a declining trend line; a later bounce could come if markets sell off more.

SMH did push up, but it's really still sideways.

As I said, we did pop up today up 1.89%. Pretty nice day for the SMH, but we are just still sideways on price action for the previous five collective trading days.

So, if this continues around this range, that's going to be all bearish consolidation. All we need is two more days of this sideways chop to have a mature bare flag. And then we could be talking about further downside with the next stop at the bottom of this inclining parallel channel at $52926 followed by this declining trend line that illustrated the near-term breakout.

And you can see this has been an uh an exaggerated breakout retrace and what could be a bounce uh pending later on if we see some more selling pressure down in the markets. It's done so not only on the 10-year yield, it did it on the SMH2, illustrating the power of learning your time counts, learning resistance levels, learning key factors and signals hidden within these candles that can all stack on top of each other, favoring a shift in direction on the markets.