VanEck Semiconductor ETF Forms Head-and-Shoulders Pattern Above $543 Support Level

According to Yahoo Finance, on July 28, the VanEck Semiconductor ETF (SMH)—which holds Nvidia, TSMC, and Broadcom as major positions—has begun forming a head-and-shoulders pattern. If SMH falls below the May 19 low of $543, the pattern will be officially confirmed as a bearish signal. The pattern suggests buyers are losing control of the market. Investors remain concerned about AI investment cooling after rapid growth and elevated valuations, alongside export restrictions and geopolitical tensions affecting semiconductor demand.
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