$SPY Near Oversold as $SMH Repeats the Bounce-and-Selloff Cycle
Two charts to watch as we head into next week.
Oversold conditions may invite a bounce, but that doesn't automatically mean the uptrend is back.
📉 $SPDR S&P 500 ETF Trust(SPY)$ | Oversold Bounce on Deck?
Price has again traveled from the upper Bollinger Band to the lower band and is approaching oversold territory. A technical bounce next week looks increasingly plausible.
But there’s a catch: the uptrend has already been interrupted, and the breakdown from the narrowing price structure remains a risk for bulls. A bounce alone won’t confirm a recovery.
🔄 $VanEck Semiconductor ETF(SMH)$ | Another Bounce-and-Selloff Cycle?
The pattern is becoming familiar: bounce, selloff, bounce, selloff. Until price breaks that cycle and establishes sustained strength, another technical rebound may simply precede renewed selling.
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