SOXX: sellers take back control
SOXX drops 5.5% as sellers flip back into control this week
Our view last week
SOXX, the semiconductor ETF, never got confirmation on its Sell signal: the three observation weeks closed sideways, and this week's 1.3% bounce carried price right back to the 20-day moving average. The ADX is falling for a third straight week and money flow has turned positive, both pointing to a decline losing conviction. SOXX technical analysis still shows a mixed picture, though, with volume contracting and an indecisive last candle.
This week's summary
SOXX, the semiconductor ETF, gave back last week's calm fast. This week the price drops 5.5% as sellers take 89% of the volume, a sharp reversal from the past 3 weeks of buyer dominance. Money flow flips negative again, and the weekly technical analysis points back to a distribution phase.
IQS Phase
80
in tension
Signal Strength
43
decline starting to make lower lows
Sizing
REDUCED
Ranking
#36 / 93
US stocks
Trade P&L %
+0.34%
from signal to date, no stop loss
Rank position
ranks 36th among the 93 sell signals for US stocks in our ranking, with a signal strength of 43 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -3.53% · monthly +1.69%
SOXX belongs to the etf settoriale sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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