Wednesday, September 19, 2007
Semiconductor Stock Index - SOX
Just a quick note about the SOX. It's at the 500 level again, with the 50 day moving avg looming at 503. The SOX got to as high as about 550 back in July, and on Tuesday tested the 200 day moving average on the downside. The 50 day has proven to be a tough resistance zone through August and September. That's a fairly narrow chart sampling, but something to be aware of when gauging the staying power of the rally that was sparked yesterday by the Fed's rate cut.