$SMH holds a concentrated basket of major semiconductor companies, so its swings reflect the chip cycle across designers, foundries and equipment makers. The w

$SMH holds a concentrated basket of major semiconductor companies, so its swings reflect the chip cycle across designers, foundries and equipment makers. The weekly close at $606.56 is well above the $558.52 EMA and $522.58 WMA. RSI 62.3 is strong, but MACD remains below its signal, consistent with…