David Lin on $SMH (Oct 30, 2026)

So, for example, if we take a look at um let's put up pull up semiconductors. So, the SMH, I was sharing this earlier this week. What I what I find really interesting with the semiconductor space.

Now I'm going to focus on the volume here. Now I've got the volume across the bottom. We've got this white line which is called the onbalance volume. So it shows when it's going up it means people are accumulating shares.

They're moving into this space and of course semiconductors have had a huge move to the upside. Now more recently in the last few months we have seen huge bouts of selling lots of big red bars.

We've seen the onbalance volume put in our rounding formation. It broke down. It has then come up and what is called kind of a kiss goodbye. So you have a topping phase. The market breaks down.

It comes up and kind of kisses it goodbye for one last move and then potentially unwinds in a very big way. So the semiconductor space the volume this has been telling us that we're seeing big selling huge institutional distribution selling in this space and we need to be aware of it.