iShares PHLX SOX Semiconductor
Investment Thesis
SOXX printed a 52-week high of $615.68 on June 3, then two back-to-back sessions on extreme volume (~3× daily average) distributed right at the peak — with MACD rolling bearish and price sitting 22% above its rising 50-day SMA, the risk/reward favors a mean-reversion pullback toward the $490 zone.
Catalysts to Watch
Two consecutive high-volume distribution sessions rejected SOXX from the 52-week high: June 5 (22.4M shares, ~2.5× average) and June 9 (24.5M shares, ~2.7× average, intraday flush to $522.24) — coinciding with MACD crossing below its signal line.
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Timeline
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