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SOXS Rebounds from $21 Support Level

The post-FOMC rally has led to a 15% decline for SOXS, and the price dipped into the $21 support zone for a buy opportunity. There has been a rebound forming so far with SOXS rising back to around $23. NVDA has not experienced any significant moves lately, AMD’s CEO was just on Jim Cramer’s show recently so there is the risk of an AMD selloff, and MU has earnings on Sept. 25. I think it will be important to watch semiconductor stocks at these price levels to look for any signs of strength or weakness after the recent Fed pivot.

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