iShares PHLX SOX Semiconductor
Investment Thesis
SOXX has plunged ~23% from its June 30 high of $640 to $491 in under four weeks — RSI at 32.87, stochastics at 9.6/19.1 (deeply oversold) — while the broad S&P 500 holds firm with 72% of stocks above their 200-day MAs. A classic sector-specific washout; if price stabilizes above today's low, a mean-reversion bounce toward the 50-day MA ($568) is the base case.
Catalysts to Watch
SOXX dropped 23% from $640.76 (June 30) to $491.46 (July 28) in under four weeks, with RSI collapsing to 32.87 and stochastics hitting 9.6/19.1, while broad market breadth remained healthy (72% of S&P 500 stocks above 200-day MA near a 52-week high of 73.6%).
Why It May Work
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Timeline
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