SMH outlook: Why $601.25 is the make-or-break level for semiconductor bulls
The VanEck Semiconductor ETF (SMH) has produced outsized returns over the last year but sits roughly 14% below its 52-week high at $577.91. Concentration in a few large holdings - most notably NVIDIA at 21.4% of the fund - means individual stock moves materially alter the ETF’s trajectory. The weekly R2 resistance at $601.25 is the single most impo…