SMH tests major resistance line

SMH approaches major resistance line after flash crash a few days ago

• SMH rallies to major resistance line
  
• 20 RSI remains below 50 which is a bearish sign that the recent rally is running out
  
• shorter timeframes show a dramatic drop in volume during the rally which is another bearish indicator
  
• August and September are historically bad months for the stock market
  

I am expecting SMH to test the resistance line, possibly breakthrough then pull back before continues selling.

Not putting on any trades, waiting for confirmation.