$Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ Long holiday weekends often see some wild price action before the break. My guess is it's market makers trying to shake out some weak hands. Two catalysts are still pending: end-of-Q2 window dressing and Micron earnings next week. However, today's move was so extreme, I wouldn't be surprised at all if that marked a blow-off top for semis.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
