Semis' seven-day skid puts reversal in focus
SOXX•The PHLX Semiconductor Index fell for a seventh straight session Thursday, closing at 11,581, about 21% below its June record but still nearly 64% higher year to date. Its nine-day RSI ended at 27.4, in oversold territory.
1. Seven-session decline
The semiconductor index has fallen for seven consecutive sessions, its longest losing streak since May 2025. Rising bond yields and renewed concerns about Federal Reserve rate hikes have weighed on chip stocks, alongside reports of progress by Chinese memory-chip maker CXMT on a new memory-cell architecture.
2. Levels traders are watching
The index's 9-day Relative Strength Index ended Thursday at 27.4, its lowest reading since late July. Initial resistance is near the 50-day moving average around 12,081; support below Thursday's 11,171 intraday low includes September lows of 11,110-11,056, trend-line support near 10,760 and the 200-day moving average near 10,581.
3. Relative strength shifts
Chip makers have recently regained relative strength against equipment makers. Traders are watching a tightening range in the chip maker/equipment maker ratio for clues about which group may lead the next move.
