This semiconductor correction is brutal, but it hasn’t hit the bottom yet

Over the past 4 weeks, the semiconductor market has seen one of the most severe sell-offs in history.
Data for the past week:
Philadelphia Semiconductor Index: down 8%
Memory ETF (DRAM): down 17%
Semiconductor ETF (SOXX): down 10%
The pullback is significant, but there are no signs of panic at the trading level.
It’s down enough, but a reversal signal hasn’t shown up yet.
Wait for the wind, don’t chase it.
$DRAM $SOXX $SOXL