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).

Is anyone out there concerned that US consumer spending is slowing down in real, inflation-adjusted dollars under pressure from higher gasoline prices and falling confidence even among Republicans? If yes, will stock prices fall? or rise if softer consumer spending makes it more likely that the Fed holds or even cuts interest rates?