Line chart of the VanEck Semiconductor ETF over 20 sessions. On October 19 it rose as much as 3.5% before closing up 1.6% at $548.46, ending a nine-session losing streak

The VanEck Semiconductor ETF (SMH) rose 1.6% to $548.46 on Monday, ending a 9-session losing streak.

The fund closed lower every session from Tuesday, October 6 through Friday, October 16.

On Monday it was up as much as 3.5%, hitting $558.56 at the high.

By the close it had given back 54% of that gain and finished near the day's low.

Here is where the fund stood on Monday.

  • Intraday high +3.5%

  • Close +1.6%

  • Versus the October 5 close -13.5%

Even after the bounce, SMH sits 13.5% below its Monday, October 5 close of $633.90.

Monday's bounce gave chip stocks a break after a rough start to October.

A green day is nice, but a close near the lows says buyers still aren't ready to chase.

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Phil Rosen
Phil Rosen

Phil Rosen is co-founder and CEO of Opening Bell Media and chief market strategist for Silvia Inc. (NASDAQ: SVIA). He hosts Full Signal and writes Opening Bell Daily — the markets briefing read by over 200,000 investors and published on Bloomberg Terminals — and has also published two books and won a Fulbright award for his reporting. Contact him at [email protected].

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