$iShares Semiconductor ETF(SOXX)$ $VanEck Semiconductor ETF(SMH)$ Following up on SOX. The bullish triangle held.
When I flagged this on Oct 24 with SOX at 10,780, there were three supports in play: 10,800 on the triangle line, 10,690 at the 200-day MA, and 10,450 from the June low.
What has played out since then: the intraday low was 10,666, with no daily close below the 200-day. Four green sessions in a row, now around 11,570, up about 7%. SOXX moved from $472 to $515.
SOX is now at the first resistance level around 11,570, which lines up with the 13 EMA. The next levels are 11,950, where the 63 EMA and horizontal resistance sit, and 12,700 at the descending triangle line. A daily close above 12,700 would confirm the breakout toward 14,700.
Invalidation remains at a daily close below 10,450. With FOMC on the calendar, volatility could pick up.
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- benbent·10-30 12:43last traded at $513.86 on 2026-10-30, down 1.55% on the day, with overnight trading near $488.82 — the chip complex remains under pressure.LikeReport