Semis Puked, Software Exploded: The AI Trade Just Turned Inside Out

Soggy SOX

SOX puked yesterday but remains above the big 10,800 support. Momentum is poor, and the 50/100-day MA cross is not bullish.

Watch the reaction if we test the level. A close below 10,800 leaves little support until the 200-day MA and the longer-term trend line.