Semiconductor ETF (SMH) Has Broken Key Support, Forming Bear Flag

Shares of the VanEck Semiconductor ETF (SMH) has broken a key trendline of support. This implies the strong gains for stocks like Nvidia (NVDA) and Broadcom (AVGO) are likely over. 

Following the breakdown, the SMH has started to put in a bear flag. This signals further downside in the SMH on the horizon. 

The semiconductor sector has lead the stock market higher, it is highly probable it will lead the market down in the near-term. The only question is how much downside will there be...