SMH Is In Wave 5 Extension as Semiconductors Aim for 400 Area
Dec 10, 2025

SMH

VanEck Semiconductor ETF (SMH) is trading within a five-wave bullish impulse from the April lows. Based on Elliott Wave theory, the ETF appears to be in the final Wave 5, which can still extend above the October highs toward the 400 area. Short-term pullbacks are possible, but the broader trend remains bullish. With current risk-on sentiment, semiconductor stocks could continue higher into late 2025 or even early 2026.

SMH Is In Wave 5 Extension as Semiconductors Aim for 400 Area SMH Daily Chart
SMH Daily Chart

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