July 22, 2026

By Nigam Arora

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

Red Sea Blockade

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 SOXL rallied to the low band of zone 2 (resistance).
• The chart shows that this morning in the early trade, SOXL is pulling back.
• Coming into this morning, there were high expectations that semiconductors would continue to rally.  However, Houthis of Yemen entering the war is causing oil to rise and upsetting the markets.