SMH Leading the Market — Semi Pullback or Reload? (Nov 18–21)VanEck Semiconductor ETFBATS:SMHBullBearInsightsThe semiconductor sector continues to be the backbone of this market, and SMH remains the cleanest way to read the strength of NVDA, AMD, AVGO, TSM, and ASML. This week (Nov. 18–21), we’re sitting right at the critical zone where buyers either defend the structure… or we see a deeper unwind across all semis. Below is what I see from all timeframes and how the GEX levels line up. 1. SMH — Daily Structure (1D) SMH is pulling back into the same demand block that held multiple times in October and early November. The daily trendline from late summer is still intact, but momentum has shifted short-term after the recent BOS + CHoCH break. Key notes: * Price is holding inside the 332–340 demand range. * A clean reclaim above 347–350 would shift bias back to bullish continuation. * Failure to defend 332 opens the path toward 320–325 (next liquidity). For Nov 18–21, this demand block decides everything. 2. SMH — 1H Trend (Short-Term) The 1-hour chart shows a clean descending channel with repeated bearish BOS breaks. Trend is currently bearish, and SMH is trading inside discount pricing. What matters this week: * 349–350 = the immediate resistance above. * If SMH rejects this zone again, sellers stay in control. * A break + hold above 350 is the first sign of short-term reversal. Until that happens, best trades continue to be short-biased near premium zones. 3. SMH — 1H GEX (Options Sentiment) This is the big one — GEX for SMH controls the entire semiconductor sector. Here’s how the levels shape the week (Nov. 18–21): Major Call Walls * 350 (1st call wall) * 360 * 370 If SMH pushes above 350, dealers hedge upward and momentum can spill into NVDA/AMD. Major Put Walls & Downside Risk * 340 (highest negative GEX zone) * 335 * 330 * 320 As long as SMH sits under 350 but above 339, this week becomes a slow bleeding range. A flush under 339–335 puts the sector in full negative-gamma mode → high volatility and possible acceleration to 330. Bias from GEX This Week * Neutral–bearish under 350 * Bullish only if 350 breaks with strength * High volatility risk below 339 4. NVDA — The Leader Stock (1D + 1H) NVDA is sitting on top of its long-term trendline and inside a large demand block. Daily: * Holding 184–186 demand * Upside needs reclaim of 192 → 200 * Below 184 → next liquidity 176 and 171 1H: * Clear BOS down structure * If NVDA can't reclaim 190–192 early in the week, downside continues NVDA is the “engine” that will decide if SMH can break back above 350. 5. AMD — The Momentum Driver (1D) AMD is still holding mid-trend structure, but losing 240–244 puts 220–213 back on the table. Upside pivot this week: 257 → 267 If SMH turns up, AMD is usually first to squeeze. 6. TSM — Sector Stabilizer (1D) TSM is sitting on the major trendline from spring. Key level: 282 If TSM loses 282, sector weakness accelerates. Above 282 → semi strength recovers. 7. ASML — Macro Semiconductor Health (1D) ASML is the quiet confirmation tool. Still ranging but holding 993 support. If ASML stays above 993, the sector holds stability. Lose 993 → room toward 935. 8. AVGO — The Silent Giant (1D) AVGO bounced off a CHoCH level and is holding 331–334. Upside reclaim levels: 342 → 360 Downside break below 331 reopens the 320 zone. Summary for Nov. 18–21 * Semiconductors are in a short-term corrective structure. * SMH demand at 332–340 is the make-or-break range. * NVDA must reclaim 190–192 to shift momentum back bullish. * GEX shows resistance stacked at 350–360; heavy put support at 339–335–330. * A bounce is possible this week — but only if SMH gets back above 350. * Under 339 → expect volatility and deeper pullback across semis. If the editors want clarity, this narrative gives them everything: trend, levels, structure, and GEX. 📌 Disclaimer This analysis is for educational and informational purposes only. It is not financial advice. Always do your own research and manage your risk before trading.