Semiconductors Flash Nasty Topping Tail

 | Feb 27, 2018 01:30PM ET

Shares of the semiconductor ETF (NYSE:SMH) surged in early trading, Tuesday, only to reverse in dramatic fashion, going negative on the day. The early surge made a new all-time high but the reversal is an ugly topping tail, a likely major top signal. Investors should watch where the SMH closes to see if it holds the topping tail.

If it does, SMH is a stone, cold short.