$SOXX down 2.4% today, fighting back from intraday lows but still bleeding. That's 8 red days straight—brutal.
The $490-$500 zone used to be resistance, now it's the line in the sand. If semis are gonna bounce, this is where it happens. Dead cat bounce territory at minimum.
Chips have been hammered, sentiment is wrecked, and we're due for some relief. Watch for a pop off this support—could be a quick trade if it holds. If it breaks, next leg down gets ugly fast.
The $490-$500 zone used to be resistance, now it's the line in the sand. If semis are gonna bounce, this is where it happens. Dead cat bounce territory at minimum.
Chips have been hammered, sentiment is wrecked, and we're due for some relief. Watch for a pop off this support—could be a quick trade if it holds. If it breaks, next leg down gets ugly fast.