CHINA BREAKTHROUGH CAUSES SELLING IN KOREA AND IN TURN SELLING IN U.S. SEMICONDUCTORS, FED RISK
By Nigam Arora
To gain an edge, this is what you need to know today.
U.S. Semiconductors Following South Korea
Please click here for a chart of leveraged semiconductor ETF (SOXL).
Note the following:
- Semiconductors are the leading sector that drove the stock market higher. SOXL is the momo crowd’s favorite semiconductor ETF.
- The chart shows that SOXL is now making lower lows in the early trade. This is a negative.
- The chart shows that the rally from the July 17 low failed at the low band of zone 2 (resistance). This is a negative.
- RSI on the chart shows that semiconductors are very oversold.
July 28, 2026