SMH maybe forming an island gap reversal

SMH lately broke above its downward trend that looked promising as a turning from this long ward slide we have been in. Selling may not be over yet

• After gapping up into more bullish territory it held for a day, stock gapped back down again
  
• Forming an island gap
  
• We could see the stock come back down into its original trading territory
  

SPY is currently trading very high at the moment. As SPY contracts we should also see SMH falling as well.