July 8, 2026

By Nigam Arora

To gain an edge, this is what you need to know today.

Will President Trump Back Off?

Please click here for a chart of leveraged semiconductor ETF (SOXL).

Note the following:

• Semiconductors are the leading sector that has been driving the stock market higher.  SOXL is the momo crowd’s favorite semiconductor ETF.
• The chart shows that the drop after Samsung’s (SSNLF) great earnings led SOXL below zone 2 (support), but SOXL managed to close above the low band of zone 2 as dip buyers stepped in.
• The chart shows volume yesterday was higher.
• The chart shows that in the early trade this morning, SOXL is below the low band of zone 2.