$Direxion Daily Semiconductors

$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ $Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ SOXX update. I'm still expecting the next bounce to target the 583-600 zone. The catch is that it needs buyers to step in and defend the 500 area to set that up. NVDA's earnings call offered a rosier tone for semis, but the follow-through didn't last and we saw another red candle. If price can stay supported near 500, there's a reasonable chance of at least trying for the 560 area again. Timing matters, though, and this needs to happen without dragging on. A convincing close below 500 on SOXX with real selling pressure would flip the setup bearish and point to lower levels from here. Dell and Broadcom are both set to report around the middle of the week, and their results could give semis a bit of backing if the numbers land well.

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