October 16, 2026

By Nigam Arora

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

Inflection Points

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

Note the following:

• Semiconductors reflect the AI trade, and SOXL is the momo crowd’s favorite.
• The chart shows that yesterday SOXL approached the low band of zone 3 (support) but did not touch it.
• The chart shows that yesterday SOXL rallied from the lows and closed near the day’s high.
• The chart shows that SOXL volume was heavy yesterday.
• The chart shows the nine day RSI reached 0.0, the most extreme oversold level RSI can be.