For all of the talk out there about "tech stocks", you rarely hear anything about the semiconductors. I guess this shouldn't be a surprise considering how poorly the semis have done in recent months.
If you want to anticipate a trend reversal, TD Sequential says that the time to get long is now. I would buy here and respect a stop-loss of 31.4. Look to see how the SMH acts while it goes into the first TDST resistance level of 34.48. If it stalls out there, take profits. If not, let it ride to the 37.90 level.