I can't make sense of this spot, $SOXLB . The low formed two hours ago, and trading volume was 1.5 times the previous average. After a high-volume selloff, there should be some direction, but it's just grinding sideways a little above the low. Maybe someone is buying at the lows but has no plans to push it up, just keeping it sideways and wearing people down. Just a guess. For the record only; not investment advice.