iShares PHLX SOX Semiconductor
Investment Thesis
Semiconductors are the clear market leader — SOXX broke to 52-week highs with the SOXX/SPY ratio also at multi-year highs — but stochastic at 99.3 and volume contracting on the breakout argue for patience: a pullback toward $615–625 offers a better risk/reward than chasing at current levels.
Catalysts to Watch
SOXX printed a new 52-week high at $655 on June 22 while the SOXX/SPY relative strength ratio simultaneously hit multi-year highs at 0.88, confirming dominant semiconductor sector leadership — but the breakout came on volume running 30% below its 20-day average, raising the question of conviction.
Why It May Work
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Timeline
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