Episode Details
Back to Episodes
SOXX Crashes Below Key Support | Business and Finance News
Description
Semiconductor stocks just hit a major reversal as SOXX plummeted over 5%—its worst day since July—after hitting key resistance near $560. The ETF now sits below the 38.2% Fibonacci level at $538, handing control back to bears. While Micron and Sandisk tumbled, Nvidia held stronger. If SOXX can’t reclaim $538, it could head toward $500 next. A bear put spread using $540/$500 strikes offers a smart play—if prices stay below $500 by Sept 18, profits soar. Watch for signs of strength: a bounce above $538 weakens the bear case; a surge past $583? That’s when bulls might take over.
Listen in comfort:
Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.
Advertise on DNN:
advertise@thednn.ai
This is an automated, high-level news summary based on public reporting.
Report issues to feedback@thednn.ai.
View sources & latest updates:
https://sources.thednn.ai/9e7a9ca9371b0ca5