SOX Philadelphia Semiconductor Index

$SOX $SPY So the world hasn’t ended after all. Semis are all up with the exception of Nvdia.

$SOX INDEX intra-year declines vs. Calendar year returns. Average intra-year declines: 29.80%

“.. The $SOX is on track to trounce Nvidia by 12 percentage points on Monday. That would be its widest outperformance relative to the world’s most valuable chipmaker since Nov. 2018. That puts the SOX on pace for its second-best day versus $NVDA since July 2008.” - Bloonberg

$SOX $RACK Hopefully tomorrow starts proper. Some of these AI hardware stocks are starting to show signs of life after hours, like $SNDK

$SOX Hourly. Decent-sized bounce today for semis to kick off a very busy week. But this timeframe clearly shows lower highs intact.

The main indexes are all up, but the PHLX Semiconductor Index (SOX) - the most intense focus on the AI drive this year - is down another -2.6%. Notable is the $SOX - $MAGS ratio. The opportunity to leapfrog the top hyperscalers may have closed.

$SOX Semi index sitting right above 200ema/200ma daily. With overbought indicators. Observation.

$SOX Regardless of what others think, I believe it has reached a bottom of sorts. A mega-scale big bottom did not come.