BTIG flags bigger topping structure in SOXX, says rally is a chance to cut exposure
SumitGup · x · 2026-10-19
BTIG's technical read on semis (SOXX): the past six months of caution still stands — any bounce here is tactical within a larger topping structure. SOXX has fallen nine straight days and sits at key support near $493; a break below $490 likely flushes to the 200-DMA around $468. BTIG's core takeaway: a counter-trend rally should be used to reduce exposure ahead of a potentially long drawdown extending into 2027.
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