iShares PHLX SOX Semiconductor
Investment Thesis
SOXX has shed ~25% in just 20 trading sessions — from $617 on July 1 to $465 today — driving RSI to an extreme 22.57 and the SOXX/SPY ratio RSI to 23.64. With the 200-day MA still intact and broad S&P 500 breadth healthy at 66–70%, this looks like a sector-specific capitulation event offering a high-asymmetry mean-reversion setup back toward the 50-day MA.
Catalysts to Watch
RSI collapsed to 22.57 and Stochastic K to 0.8 on July 29 as volume surged to 18.6M shares — the heaviest session of the recent decline — consistent with capitulation-style selling.
Why It May Work
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Timeline
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