$SOXX bleeding for 6 straight sessions now. Bulls desperately need a red-to-green reversal TODAY and a violent bounce off the 50-day moving average.
Context: They spent 3.5 months grinding above that level. Now it's make-or-break support. If it holds, could be a fast snap-back. If it fails, next leg down opens up.
Watch: Any early weakness that gets bought aggressively. Volume matters. A limp bounce doesn't cut it—needs conviction. Semis are the backbone of the AI trade, so this isn't just a chart—it's a sentiment check on the whole AI supercycle thesis.
Risk-on if we reclaim and hold above 50dma with strong close. Risk-off if we slice through and close below.
Context: They spent 3.5 months grinding above that level. Now it's make-or-break support. If it holds, could be a fast snap-back. If it fails, next leg down opens up.
Watch: Any early weakness that gets bought aggressively. Volume matters. A limp bounce doesn't cut it—needs conviction. Semis are the backbone of the AI trade, so this isn't just a chart—it's a sentiment check on the whole AI supercycle thesis.
Risk-on if we reclaim and hold above 50dma with strong close. Risk-off if we slice through and close below.