Semis Officially In Full Panic-Buying Mode

Full Melt-Up Mode

Semis are back in full squeeze mode. Every dip keeps getting aggressively bought, leverage is amplifying upside moves, and positioning is once again crowding into the same narrow AI leadership cohort.

The remarkable part is that upside volatility continues trading extremely well bid while downside fear remains almost nonexistent, even as parts of the setup are starting to look increasingly stretched.