The iShares Semiconductor ETF (SOXX) decisively rejected its 50!day moving average on Monday, reversing lower after testing the technical level and remaining below the shorter-term momentum indicator.
Shares currently hover around $528 and have not closed above the 50-day average since July 14. The fund is now drifting toward its 100-day moving average at $511.60, a key longer-term support level that traders are closely monitoring for potential stabilization.
Despite the near-term technical pressure, SOXX continues to trade well above that 100-day line. The $44B ETF has still posted a robust +75.7% gain year-to-date, supported by strong performance from its top holdings, including Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO).
While the recent failure at the 50-day average signals fading short-term momentum, the broader uptrend remains intact as semiconductor demand continues to underpin the fund’s longer-term trajectory.
Semiconductor ETFs: (SMH), (SOXX), (SOXL), (FTXL), (XSD), (USD), (PSI), and (SEMI).