Direxion Daily Semiconductor Bear 3x Shares (ARCA: SOXS)

에 대한 최신 뉴스 Direxion Daily Semiconductor Bear 3x Shares (ARCA:SOXS)

Direxion Daily Semiconductor Bear 3x Shares

Direxion

The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in swap agreements, futures contracts, short positions or other financial instruments that provide inverse (opposite) or short daily exposure to the index or to ETFs that track the index. The index is a rules-based, modified float-adjusted market capitalization-weighted index that tracks the performance of the thirty largest U.S. listed semiconductor companies. The fund is non-diversified.

Dreyfus Govt Cash Man Ins

Goldman Sachs Fin Gov 465 Institut

Dreyfus Trsy Prime Cash Mgmt - In 0 -

Gs Financial Square Treasury Instruments Fund

Direxion Daily Semiconductor Bear 3X Shares

Long Ideas

Sector ETFs

Specialty ETFs

Exclusives

Tech

Trading Ideas

Interview

ETFs

NVDA

SOXL

SOXS

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

엔비디아(NASDAQ:NVDA)는 반도체 회사들과 매그니피센트 7 주식들 중에서 눈에 띄는 성과를 거두었다. 그런데 2024년 하반기까지 선두 자리를 유지할 수 있을까?

단독: 엔비디아의 높은 주가는 &#39;일부 투자자들에게 일시 중지&#39;를 제공, 전문가는 재평가를 경고

An<a href="https://www.benzinga.com/markets/equities/24/10/41339229/asml-earnings-leak-sparks-broad-semiconductor-sell-off-sector-down-sharply-as-dutch-chipmaker-lo"> unintentional disclosure</a> by semiconductor equipment specialist ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) penalized the broader technology sector, with the benchmark Nasdaq index losing 1% on Tuesday. Unfortunately, ASML accidentally released its third-quarter earnings report a day early, causing a ripple effect in the computer chip ecosystem.
As Benzinga Staff Writer Piero Cingari pointed out, the report "revealed a significant revision to its 2025 net sales guidance, now projected between 30 billion euros and 35 billion euros ($32.7 billion to $38.2 billion) — a reduction from the previously stated range of 30 billion euros to 40 billion euros."
Most worryingly, while demand related to artificial intelligence appears to continue to be largely in a bright spot, it wasn't enough to rejuvenate other market segments. "It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness," said ASML president and CEO Christophe Fouquet.
Adding insult to injury, the head executive disclosed that the company's 2025 total net sales may expand to a range between 30 billion to 35 billion euros, which represents the lower half of the guidance that the company provided at its Investor Day conference.
Not surprisingly, the options market lit up for ASML stock, with the market's heavy hitters<a href="https://www.benzinga.com/insights/options/24/10/41339957/market-whales-and-their-recent-bets-on-asml-options"> positioning themselves bearishly</a>. Specifically, professional or institutional investors piled into put options with expiration dates ranging from this Friday to March 21 of next year.
The Direxion ETFs: Nevertheless, the heightened activity in the tech space could offer opportunities in Direxion's leveraged exchange-traded funds. Some of the financial service provider's highest-risk, highest-reward offerings took center stage recently. First, the Direxion Daily Semiconductor Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) is an ETF that is reserved only for the most optimistic traders.
Second, the Direxion Daily Semiconductor Bear 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) is an extreme ETF that caters to those holding decisively pessimistic sentiments. Both the SOXL and SOXS seek the daily investment results of 300% (or 300% of the inverse) of the NYSE Semiconductor Index. Given the 3X leverage, these funds are only designed to be held for periods no greater than one day.
Fundamentally, the daily compounding of leverage – especially for the inverse SOXS – is severe in these ETFs. Therefore, it's imperative that market participants maintain positional discipline and exit before the trading session expires.
The SOXL ETF: Although the SOXL fund is in positive territory for this year, the extreme leverage has only resulted in a relatively modest performance.
<ul>
<li>After soaring through early July, the 3X-leveraged ETF tumbled badly into early August before entering a choppy consolidation phase.</li>
<li>SOXL is on the ropes at the moment as the shocking ASML disclosure plunged its unit price below its 50-day moving average.</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcDg3gZRbsYBXGyC9ebAaHbyBmm3YxDtIExF7-52uSNnlV5n7ttS3rZzjpAmFVC1fOn_yC3_TkH-qICphGvPTrB04YayTwGe9zrwAiXYk9FfXLRkxwAwZX6_QwWY99nWsgVuBG29e03786l8bWaMkPq1q-r?key=YsYI2ypHuca7szZI3JwmPg" alt="" /></figure>
The SOXS ETF: Due to the overall strong performance of the tech space, SOXS has been bleeding red ink, losing over 63% since the start of this year.
<ul>
<li>The overall posture of SOXS is discouraging right now since it can't seem to break the trend of lower lows.</li>
<li>However, Tuesday's accidental disclosure yielded an almost 18% lift in the 3X bear fund, providing much-needed optimism.</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfO7idp6c-deCBWIGE-Y4k3JU7Cn0FEPp4BI6O7pfhKiXnZG3kHQA0M-j6c71boRzco-QnDKhBY5A6x6IYX9J5asz9xjnG3zwW1HeU2VHbvRtEV2JTdZWU5GgwwsGPlNqyOknSBZ9kWbq7mvQSIu_g_6wgw?key=YsYI2ypHuca7szZI3JwmPg" alt="" /></figure>
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Short Ideas

Technicals

ASML

Tech Sector Chaos Puts Spotlight On Direxion's 3X-Leveraged SOXL And SOXS Funds

Direxion Managing Director Ed Egilinsky spoke to Benzinga about the sectors likely to benefit from the Federal Reserve&#8217;s potential rate cuts as well as the <a href="https://www.benzinga.com/topic/2024-presidential-election">2024 presidential election</a>.
&#8220;In the current rotation trade environment, there are several sectors that could be impacted such as the Financials, Energy, Tech, and Healthcare/Biotech,&#8221; Egilinsky said. 
<h3 class="wp-block-heading">Semiconductors &#8211; Driving The Tech Sector</h3>
Egilinsky emphasized the significant role of semiconductors in the tech sector's recent success. 
&#8220;The tech sector has continued to be a leader in 2024, with semiconductors once again outpacing the broader tech space,&#8221; he said. This trend is partly due to the excitement surrounding AI.
For traders looking to leverage this momentum, Egilinsky said, &#8220;We have seen inflows YTD with both our Direxion Daily Semiconductor Bull 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) and Direxion Daily Semiconductor Bear 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>), as traders contemplate the next directional move.&#8221; 
These ETFs are designed to capture short-term fluctuations in the semiconductor sector, offering investors tools to capitalize on its ongoing growth.
<h3 class="wp-block-heading">Sector Sensitivity Amid Political, Economic Shifts</h3>
With Election Day on Nov. 5, Egilinsky highlighted how policy changes could affect various sectors in 2025.
&#8220;The election outcome could have a major impact on policy and should create directional volatility in areas sensitive to policy shifts such as healthcare/biotech, financials, and energy,&#8221; he explained. 
Leveraged and inverse ETFs are poised to see increased activity depending on these policy changes:
<ul>
<li>Direxion Daily S&amp;P Biotech Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LABU#NYSE">LABU</a>) and Direxion Daily S&amp;P Biotech Bear 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LABD#NYSE">LABD</a>),</li>
<li>Direxion Energy Bull 2X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERX#NYSE">ERX</a>) and Direxion Daily Energy Bear 2X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERY#NYSE">ERY</a>)</li>
<li>Direxion Financial Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAS#NYSE">FAS</a>) and Direxion Financial Bear 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAZ#NYSE">FAZ</a>) </li>
</ul>
Read Also: <a href="EXCLUSIVE: Which Magnificent 7 Stock Would Investors Put $1,000 In Today? 44% Of Benzinga Readers Pick This Company">EXCLUSIVE: Which Magnificent 7 Stock Would Investors Put $1,000 In Today? 44% Of Benzinga Readers Pick This Company</a>
<h3 class="wp-block-heading">Diversifying Beyond The Magnificent Seven</h3>
Egilinsky also discussed the challenge of diversifying beyond the top-performing Magnificent Seven stocks: Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
&#8220;We see many investors looking to diversify beyond the Magnificent Seven stocks,&#8221; he said. For those seeking broader exposure, the Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQE#NASDAQ">QQQE</a>) offers an equal weight approach to the NASDAQ 100 Index, potentially providing additional sources of returns.
<h3 class="wp-block-heading">Real Estate, Utilities: Benefiting From Rate Cut Expectations</h3>
Egilinsky also noted the performance of real estate and utilities in light of anticipated rate cuts. 
&#8220;The Real Estate and Utilities markets recently hit two-year highs as the realization that the Fed will start cutting interest rates has helped both sectors be amongst the best-performing sectors thus far this quarter,&#8221; he said.
For investors looking to ride this momentum, ETFs like the Direxion Daily Utilities Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTSL#NYSE">UTSL</a>) and Direxion Daily Real Estate Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRN#NYSE">DRN</a>) are worth considering.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40635736/how-americas-home-market-could-change-for-the-better-if-more-buyers-followed-charlie-mungers-lead">How America&#8217;s Home Market Could Change For The Better If More Buyers Followed Charlie Munger&#8217;s Lead</a></li>
</ul>
Image: Shutterstock

AAPL

AMZN

Direxion Daily Real Estate Bull 3x Shares

GOOG

GOOGL

LABD

LABU

MSFT

QQQE

TSLA

UTSL

EXCLUSIVE: Beyond The Magnificent Seven — Direxion's Egilinsky Reveals Top Sector Picks

ETFs that allow investing in Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are showing mixed reactions on Wednesday pre-market ahead of the Jensen Huang-led company&#8217;s earnings call.
What Happened: According to <a href="https://www.benzinga.com/top-stories/24/08/40534794/nvidia-is-next-weeks-top-stock-market-strategist-says-why-best-long-term-idea-is-just-buy-nvidia-and">Benzinga Pro</a>, at the time of writing, Direxion Daily Semiconductor Bull 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) was trading higher by 1.14%, while Direxion Daily Semiconductor Bear 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) was down by 0.85%.
VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) was trading 0.40% higher, and ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/NVDX#BATS">NVDX</a>) also increased by 1.09%.
Meanwhile, GraniteShares 2x Short NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVD#NASDAQ">NVD</a>) fell by 1.20%, whereas GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NASDAQ">NVDL</a>) gained 0.98%.
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40524790/amazon-ceo-andy-jassy-says-companys-ai-assistant-has-saved-260m-and-4-5k-developer-years-of-work?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon CEO Andy Jassy Says Company&#8217;s AI Assistant Has Saved $260M And 4.5K Developer-Years Of Work: &#8216;It&#8217;s Been A Game Changer For Us&#8217;</a>
Why It Matters: Investors are keenly observing Nvidia ahead of its earnings report, which is anticipated to significantly impact the market. A Morgan Stanley analyst expressed confidence in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40570314/top-nvidia-analyst-sees-no-major-impact-from-blackwell-delay-but-flags-one-caveat-h">Nvidia&#8217;s ability to meet high expectations</a>, despite potential delays in Blackwell shipments. The analyst, Joseph Moore, maintained an Overweight rating and a $144 price target for Nvidia shares.
Moreover, Goldman Sachs highlighted the potential for a significant <a href="https://www.benzinga.com/markets/equities/24/08/40592599/nvidia-stock-poised-for-major-298b-market-jolt-as-q2-earnings-loom-says-goldman-sachs-can-you-im">market value fluctuation</a>, estimating a possible $298 billion swing following Nvidia&#8217;s second-quarter earnings report. This projection is based on options pricing data, which suggests a potential 9% move in Nvidia stock in either direction.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40590258/gop-congress-member-nancy-mace-they-havent-done-anything-slams-dnc-cannabis-inaction-calls-out-r?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Congress Member Nancy Mace: &#8216;They Haven&#8217;t Done Anything,&#8217; Slams DNC Cannabis Inaction, Calls Out Republican Reluctance</a></li>
</ul>
Image via Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

News

Pre-Market Outlook

General

NVDL

ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF

NVDX

NVDL, SOXL And Other Chip-Stock Tracking ETFs Trade Mixed Ahead Of Nvidia Earnings: Here's Why

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has been a standout performer among semiconductor companies and <a href="https://www.benzinga.com/topic/magnificent-seven">the Magnificent Seven stocks</a>. 
However, can it maintain its leadership position through the second <a href="https://www.benzinga.com/quote/NVDA/news">half of 2024</a>?
Ed Egilinsky, Managing Director at Direxion, shares his insights, shedding light on the key drivers and potential headwinds for this tech titan.
<h2 class="wp-block-heading">Nvidia&#8217;s Sky-High Valuations Give Investors A Pause</h2>
&#8220;Nvidia has been a stalwart in the tech space over the last few years,&#8221; Egilinsky acknowledges. &#8220;However, its current valuation might make some investors pause. There is no denying Nvidia is a leader in the chip space and more specifically regarding AI-related chips. They should be a notable player in the space for years to come.&#8221;
But even champions need a breather. Post-stock split, Nvidia has underperformed both:
<ul>
<li>The broader semiconductor index, as tracked by the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), and</li>
<li>the Nasdaq 100 index, as tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)</li>
</ul>
Hence, Egilinsky believes the sky-high valuation might face reevaluation if competition intensifies or demand slows down.
Read Also: <a href="https://www.benzinga.com/government/24/07/39646273/is-nvidia-defying-us-export-controls-whats-going-on">Nvidia Could Generate $12B In China With New AI Chips That Comply With US Restrictions: Report</a>
<h2 class="wp-block-heading">Opportunities For Nvidia Bulls and Bears Alike</h2>
While Nvidia&#8217;s stock has trended mostly higher year-to-date, Egilinsky sees room for both bulls and bears. &#8220;For those active traders seeking to trade short-term price movements with Nvidia stock regardless of direction, Direxion offers tools to capitalize on these opportunities,&#8221; he notes.
Despite Nvidia's impressive performance, the stock market landscape remains dynamic. &#8220;Our leveraged ETFs are designed for active/short-term trading and should be monitored daily,&#8221; Egilinsky advises.
For traders looking at the bigger picture, the broader semiconductor space offers its own set of opportunities. 
Egilinsky highlights that Direxion Daily Semiconductor Bull 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) and Direxion Daily Semiconductor Bear 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) ETFs cater to those wanting to take a stance on the entire sector. 
&#8220;Our largest ETF currently is the SOXL ETF with more than $10 billion in assets. However, with the rally in semiconductors year-to-date, we have seen net inflows into 3X Bear semiconductor (SOXS) and outflows into our 3X Bull (SOXL),&#8221; said Egilinsky.
<h2 class="wp-block-heading">What's Next For Nvidia?</h2>
As Nvidia navigates H2 2024, the balance between its rich valuation and potential competition will be crucial. &#8220;There might be increasing competition and/or a demand slowdown leading to Nvidia's current rich valuation being reevaluated,&#8221; Egilinsky predicts.
For now, Nvidia remains a key player in the tech sector, but active traders will need to stay vigilant.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/07/39709928/nvidia-absent-at-chinas-ai-show-chinese-gpu-makers-step-up-report">Nvidia Absent At China&#8217;s AI Show, Chinese GPU Makers Step Up: Report</a></li>
</ul>

EXCLUSIVE: Nvidia's Sky-High Valuation 'Gives Some Investors Pause,' Expert Warns Of Reevaluation

On Thursday, Taiwanese contract chipmaker&nbsp;Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) projected a 10% annual revenue growth in the global semiconductor industry, excluding memory chips.
"This is a new golden age of opportunity with artificial intelligence applications&nbsp;(AI),"&nbsp;Reuters quoted SVP Cliff Hou&nbsp;as saying&nbsp;at an event in Hsinchu.
In April, the key&nbsp;supplier of Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) slashed its outlook for the global semiconductor industry, excluding memory, to a growth rate of ~10% from a previous forecast of over 10%.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/23032720/newplot-19.png" alt="" class="wp-image-351755" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/23032720/newplot-19.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/23032720/newplot-19-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/05/38940907/asml-and-taiwan-semi-prep-for-potential-china-taiwan-conflict-with-remote-shutdown-feature" rel="noreferrer noopener">ASML and Taiwan Semi Prep for Potential China-Taiwan Conflict with Remote Shutdown Feature</a>
World Semiconductor Trade Statistics projected 13.1% growth for the global semiconductor market in 2024.
Thanks to the AI frenzy, TSMC expects second-quarter&nbsp;sales&nbsp;to grow by up to 30%.
Analysts noted that TSMC&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38969084/nvidia-chooses-taiwan-semiconductors-cowos-l-for-blackwell-in-major-capacity-boost-analyst" rel="noreferrer noopener">plans to triple</a>&nbsp;its 3 nm family capacity from 2023 to 2024, with Chip-on-wafer-on-substrate (CoWoS) capacity growing at a CAGR of 60%+ from 2022 to 2026.&nbsp;
CoWoS is&nbsp;an advanced packaging technology for high-performance computing (HPC) and artificial intelligence (AI) components. Also, Nvidia has chosen&nbsp;TSMC's&nbsp;CoWoS-L for Blackwell in a&nbsp;major&nbsp;capacity ramp-up.
TSMC reported<a target="_blank" href="https://www.benzinga.com/news/24/05/38842448/taiwan-semi-flags-high-costs-of-asmls-latest-chip-machines" rel="noreferrer noopener">&nbsp;first-quarter revenue&nbsp;growth</a>&nbsp;of&nbsp;16.5% to $18.87 billion, surpassing the analyst consensus of $18.40 billion. Advanced technologies formed 65% of&nbsp;TSMC's&nbsp;total revenue.&nbsp;
Reportedly, big techs led by&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) earmarked over $32 billion in AI infrastructure in the first quarter.
TSMC stock gained 73% in the last 12 months. Investors can gain exposure to the semiconductor sector via&nbsp;Direxion Daily Semiconductor Bull 3x Shares&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) and&nbsp;Direxion Daily Semiconductor Bear 3x Shares&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>).
Price Action:&nbsp;TSM shares were trading higher by 2.54%&nbsp;at&nbsp;$160.11&nbsp;at&nbsp;the last check on Thursday.
Also Read: <a href="https://www.benzinga.com/government/24/05/38824316/taiwan-semi-set-to-build-11b-chip-plant-in-germany-aiming-for-2027-production-start" target="_blank" rel="noreferrer noopener">Taiwan Semi Set to Build $11B Chip Plant in Germany, Aiming for 2027 Production Start</a>
Photo by Jack Hong via Shutterstock

Guidance

Media

What's Going On With Nvidia Supplier Taiwan Semi Stock On Thursday?

Semiconductor stocks were up on Thursday after largely having slipped this last month. Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was up over 2.0% at the time of writing. Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) was up over 0.5%. Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) was up 0.2%. The lone drop came from Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), which shed 0.15%.
<h2 class="wp-block-heading">Fed Decision</h2>
The moves came in large part due to relief at the news that the Federal Open Market Committee (FOMC) did not intend to raise rates and is still open to lowering them before the year is out. This was mostly expected, but some feared that disappointing inflation numbers would lead the FOMC to raise rates or indicate there was little hope of any reduction in the near future.
The semiconductor industry, a high-growth sector, responded well to the news. Typically, investors are scared away from high-growth equities in high-interest rate environments.
The Fed reiterated that its target for considering reducing interest rates would be 2% inflation. All eyes will be on numbers coming May 15.
<h2 class="wp-block-heading">Solid Earnings</h2>
In addition to the FOMC decision, Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reported earnings on Wednesday. The company largely beat Wall Street's expectations; it reported EPS of $2.44 vs the expected $2.32 and revenue of $9.39 billion vs the expected $9.34 billion. The strong numbers gave the company's stock a nearly 10% bump today and indicated a strong market for the entire sector, leading to bleed over in other semiconductor stocks.
<h2 class="wp-block-heading">Investing In The Space</h2>
Investors looking to get into the space can do their due diligence and pick individual equities. However, many investors would do well to consider a semiconductor-focused ETF instead like the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>). The fund invests in a diversified set of companies involved in the space, such as NVIDIA and AMD.
And for investors who want to take their view even further, <a href="https://www.direxion.com/">Direxion</a> offers the <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">Direxion Daily Semiconductor Bull 3X Shares</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) which seeks daily investment results, before fees and expenses, of 300% of the performance of the NYSE Semiconductor Index.
For the bears, who think Semis are overvalued and a correction is imminent, Direxion also offers the <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">Direxion Daily Semiconductor Bear 3X Shares</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) which seeks daily investment results, before fees and expenses, of 300% of the inverse of the performance of the NYSE Semiconductor Index.
Featured photo by<a href="https://unsplash.com/@eiskonen?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash"> Hans Eiskonen</a> on<a href="https://unsplash.com/photos/bull-grayscale-photo-wn57cSQ7VzI?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash"> Unsplash</a>

INTC

QCOM

Semiconductor Stocks Pop After Fed Meeting And Strong Numbers From This Chip-Maker

Concerns over rising interest rates and a barrage of <a href="https://www.benzinga.com/calendars/earnings">corporate earnings reports</a> continue to affect U.S. stocks.
What Happened: On Wednesday, April 17, all three major indexes opened in positive territory. But the market sentiment quickly soured. 
<ul>
<li>The S&amp;P 500 closed down approximately 0.6%</li>
<li>Dow Jones Industrial Average posted a more modest loss of 0.1%. </li>
<li>The tech-heavy Nasdaq Composite plunged over 1% by the day&#8217;s end.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/04/38306414/nvidia-stock-could-see-81-upside-by-2025-says-evercore-isi-only-in-the-beginning-phases-of-gener">Nvidia Stock Could See 81% Upside By 2025, Says Evercore ISI: &#8216;Only In The Beginning Phases Of Generating Outsized Returns&#8217;</a>
<h3 class="wp-block-heading">Tech: S&amp;P 500&#8217;s Worst Performing Segment</h3>
Tech giants played a pivotal role in driving the day&#8217;s market action. 
<ul>
<li>Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) took a notable hit, tumbling nearly 4%</li>
<li>Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) also saw a decline of over 1%. </li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) emerged as the worst-performing segment within the S&amp;P 500, shedding nearly 1.5%.</li>
<li>ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), the Dutch semiconductor equipment giant&#8217;s shares plummeted more than 7% following a disappointing quarterly update. </li>
</ul>
Despite resilient sales to China amidst U.S. restrictions, ASML missed order estimates, sending shockwaves through the chip sector.
Investors now brace for further fallout ahead of Taiwan Semiconductor Manufacturing Co Ltd&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) earnings report on Thursday, April 18. The company&#8217;s report will likely carry significant implications for the entire industry.
<h3 class="wp-block-heading">Nvidia-Focused ETFs In The Spotlight</h3>
Exchange-traded funds (ETFs) focused on Nvidia found themselves in the spotlight.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="625" height="451" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025637/Screenshot-2024-04-18-at-11.57.52-AM.png" alt="" class="wp-image-297254" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025637/Screenshot-2024-04-18-at-11.57.52-AM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025637/Screenshot-2024-04-18-at-11.57.52-AM-300x216.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>
<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a>
<h3 class="wp-block-heading">Top ETF Gainers On Wednesday</h3>
<ol>
<li>Direxion Daily Semiconductor Bear 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) surged by 7.63%; this bearish ETF capitalized on the downturn in semiconductor stocks.</li>
<li>ETF Opportunities Trust T-Rex 2X Inverse NVIDIA Daily Target ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDQ#NYSE">NVDQ</a>) posted a gain of 8.21%; this inverse ETF offered investors double the inverse exposure to Nvidia&#8217;s daily performance.</li>
<li>GraniteShares 2x Short NVDA Daily ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVD#NYSE">NVD</a>) spiked 8.02%; this ETF leveraged a short position on Nvidia&#8217;s daily movements.</li>
<li>ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>) climbed 13.82; this ETF provided ultra-short exposure to the semiconductor sector, benefiting from the broader weakness in chip stocks.</li>
</ol>
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="625" height="451" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025813/Screenshot-2024-04-18-at-11.59.05-AM.png" alt="" class="wp-image-297258" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025813/Screenshot-2024-04-18-at-11.59.05-AM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025813/Screenshot-2024-04-18-at-11.59.05-AM-300x216.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>
<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a>
<h3 class="wp-block-heading">Top ETF Losers On Wednesday</h3>
<ol>
<li>Direxion Daily Semiconductor Bull 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) plunged 7.71%</li>
<li>GraniteShares 2x Long NVDA Daily ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NYSE">NVDL</a>) slid 7.80%; this leveraged ETF magnified losses as Nvidia shares declined.</li>
<li>ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDX#NYSE">NVDX</a>) dropped 8.02%; this ETF doubled the exposure to Nvidia&#8217;s daily performance, resulting in amplified losses.</li>
<li>Direxion Daily NVDA Bull 2X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDU#NYSE">NVDU</a>) fell by 7.90%; this bullish ETF faced headwinds as Nvidia shares declined, eroding investors&#8217; returns.</li>
</ol>
As Nvidia-centric ETFs stole the limelight with their volatile movements, investors navigated through a landscape fraught with uncertainty. They can be seen grappling with divergent market forces and the ever-present specter of <a href="https://www.benzinga.com/topic/interest-rates">interest rate hikes</a>. 
Read Next: <a href="http://Jim Cramer Explains What Could Trigger Further Market Decline: 'If You Want To Get Out, Go Ahead ...'">Jim Cramer Explains What Could Trigger Further Market Decline &#8211; &#8216;If You Want To Get Out, Go Ahead &#8230;&#8217;</a>

Movers

NVDQ

NVDU

Nvidia ETFs Take Center Stage As Bears, Bulls Duke It Out With 8%-14% Swings

Direxion Daily Semiconductor Bull 3X Shares (ARCA: SOXL) surged to new 25-month highs between March 1 and March 8, which Benzinga pointed out <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37402897/soxl-soars-toward-new-highs-nvidia-and-amd-fuel-semiconductor-sector-rally">was likely to happen on Feb. 29</a>.
After reaching the new highs, the ETF, which is <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">a triple-leveraged fund</a> that consists of a variety of stocks in the semiconductor sector, started to consolidate, falling about 18% from the March 8 high of $56.99.
The recent consolidation has helped drop SOXL&rsquo;s relative strength index (RSI) down from about the 75% level to a more comfortable 56%. With the lowered RSI, SOXL has room to surge higher after the consolidation is over but whether or not that happens is dependent on whether the fund&rsquo;s largest holdings, such as Nvidia Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) and Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) continue to trend higher within their bull cycles.
AMD is weighted at 8.67% within the SOXL fund, while Broadcom, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>) is weighted at 8.59%. Nvidia is the third largest holding within the ETF, weighted at 7.54%.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37662430/ai-tailwinds-boost-super-micro-computer-analysts-bull-case-expect-strong-revenue-gr">AI Tailwinds Boost Super Micro Computer Analyst&#39;s Bull Case: &#39;Expect Strong Revenue Growth&#39;</a>
Trending:&nbsp;<a href="https://www.benzinga.com/news/24/03/37670386/elon-musk-steve-jobs-autographed-business-cards-up-for-auction-heres-how-much-they-will-set-you-back">Elon Musk, Steve Jobs Autographed Business Cards Up For Auction: Here&#39;s How Much They Will Set You Back</a>
On Wednesday, BofA Securities analyst Vivek Arya reiterated Buy rating on Nvidia stock and raised a price target from $925 to $1,100. The new price target implies an upside of 21% and indicates Arya sees room for Nvidia to surge higher.
There are always two sides to every trade, however, and traders who are bearish on the semiconductor sector or who are looking to trade a further pullback can track the Direxion Daily Semiconductor Bear 3X Shares (ARCA: SOXS).
It should be noted that Direxion&rsquo;s leveraged funds are designed for short-term traders and shouldn&rsquo;t be held for a long period of time.
Want direct analysis? Find me in the BZ Pro lounge!&nbsp;<a href="https://www.benzinga.com/pro/" target="_blank">Click here for a free trial</a>.
The SOXL Chart: When SOXL fell lower on Monday and Wednesday, the ETF bounced up from near the $45 mark, which SOXL also did on March 5. The bounce up from that area on three separate occasions indicates that there&rsquo;s strong support at that level, which has also caused the ETF to print a triple bottom pattern there.
<ul>
<li>On Wednesday, SOXL was working to form a hammer candlestick on the daily chart, which indicates the local bottom may have occurred. If SOXL trades higher on Thursday, Wednesday&rsquo;s candlestick will be confirmed and the ETF may rise over Tuesday&rsquo;s high-of-day, negating its recent downtrend.</li>
<li>If SOXL breaks up above Tuesday&rsquo;s high-of-day, the ETF will also break bullishly from a rising channel pattern, which SOXL has been trading in since Dec. 14.</li>
<li>Bearish traders want to see SOXL fall under the $45 mark, which will negate the triple bottom pattern and could accelerate downside pressure.</li>
<li>SOXL has resistance above at $50 and at $55.94 and support below at $44.97 and at $41.60.<img alt="screenshot_341_0.png" src="https://www.benzinga.com/files/u278075/screenshot_341_0.png" style="height:361px; width:760px" /></li>
</ul>
Featured image sourced from Shutterstock

Small Cap Analysis

AVGO

Upside For Nvidia Stock Could Set This Semiconductor ETF Soaring To New Highs: A Technical Analysis Of SOXL

Rhetoric from the CCP has reached a new pitch as President Xi Jinping calls on "all patriots from home and abroad, in and out of Taiwan" to increase opposition to independence for the disputed nation.
This comes only a few days after "peaceful" was dropped from the phrase "peaceful reunification" in an official Chinese budget report that outlines a more than 7% boost to military spending. "Peaceful" has always been used when speaking about reunification and many found its absence conspicuous.
Led by Asia's 2nd largest company, Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Taiwan is the world leader in the manufacturing of the chips critical to, amongst many other applications, AI.
The increasing geopolitical tension has made some investors wary, TSM dipped close to 1.5% after Xi's remarks. Most investors, however, remain bullish.&nbsp;
TSMC has been on a tear recently, up 44.9% this year. 5% of that came this week after extremely positive numbers were released. The chip manufacturer boosted revenue by close to 10% in the first two months of the year.
<h3 class="wp-block-heading">Semi SOXX</h3>
TSMC is just one of many stocks in the semiconductor industry that have been on an upward spike this year. The semiconductor industry provides the powerful components that allow AI to function. Semis are the "picks" being sold to the gold minors, to borrow from a classic analogy.&nbsp;
NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is the darling of the moment, rocketing up over 500% since January of 2023. But many other semiconductor companies are hot as well, like Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>).
Investors looking to get into the space would do well to consider a semiconductor-focused ETF like iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>). The fund invests in a diversified set of companies involved in the space like NVIDIA and AMD.
<h3 class="wp-block-heading">Max View</h3>
And for investors who want to take their view even further, Direxion offers the <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">Direxion Daily Semiconductor Bull 3X Shares</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) which seeks daily investment results, before fees and expenses, of 300% of the performance of the NYSE Semiconductor Index.
For the bears, who think Semis are overvalued and a correction is imminent, Direxion offers the <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">Direxion Daily Semiconductor Bear 3X Shares</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) which seeks daily investment results, before fees and expenses, of 300% of the inverse of the performance of the NYSE Semiconductor Index.
Read Next:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37563074/is-ivana-delevska-the-new-cathie-wood-sprx-performance-leaves-arkk-in-the-dust">Is Ivana Delevska The New Cathie Wood? SPRX Performance Leaves ARKK In The Dust</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37493009/cathie-wood-sells-31-million-in-coinbase-stock-after-site-crashes-amidst-bitcoin-rally-w">Cathie Wood Sells $31 Million In Coinbase Stock After Site Crashes Amidst Bitcoin Rally, Warren Buffet Warns Of &#8216;Casino-Like&#8217; Behavior In Markets</a>
Photo by<a href="https://unsplash.com/@tents_and_tread?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash"> Thomas Tucker</a> on<a href="https://unsplash.com/photos/city-building-during-daytime-au3CYbd7vCU?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash"> Unsplash</a>

Taiwan Semiconductor Dips After Xi Jinping Calls For Mobilization Of 'Patriots' In Taiwan, But Sentiment Remains Strong

Direxion Daily Semiconductor Bull 3X Shares (ARCA: SOXL) was surging over 7% on Thursday, looking to print a higher high to confirm its <a href="https://www.benzinga.com/money/stock-chart-patterns">uptrend remains intact</a>.
The semiconductor sector has been experiencing a bull cycle, with NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) flying in blue skies amid the company making a consistent series of new all-time highs in response to beating quarterly earnings estimates again. Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) was pushing higher into blue skies, propelled by positive sentiment in the sector.
SOXL is <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">a triple-leveraged fund</a> that consists of a variety of stocks in the semiconductor sector. AMD&nbsp;makes up 8.67% of the fund, while Nvidia is weighted at 7.54%.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37402333/exclusive-magnificent-7-takes-center-stage-in-roundhills-expanded-etf-lineup-with-i">EXCLUSIVE: Magnificent 7 Takes Center Stage In Roundhill&#39;s Expanded ETF Lineup With Inverse And Leveraged Options</a>
Trending:&nbsp;<a href="https://www.benzinga.com/m-a/24/02/37400950/apples-abandoned-ev-project-almost-used-siri-as-the-steering-wheel-began-after-reported-deal-with-te">Apple&rsquo;s Abandoned EV Project Almost Used Siri As The Steering Wheel, Began After Reported Deal With Tesla Fell Through</a>
On Thursday, the S&amp;P 500 looked to be attempting to break up from a bull flag pattern, indicating the stock market could be heading for another all-time high after the Federal Reserve&rsquo;s preferred <a href="https://www.benzinga.com/markets/equities/24/02/37394505/tech-stocks-set-to-rise-thursday-as-january-inflation-data-fails-to-scare-markets-small-caps-sur">inflation gauge met expectations</a>. Tech stocks, including chipmaker stocks, have enjoyed bullish price action recently, matching the positive movements seen in the general markets.
Traders who are bearish on the semiconductor sector or who are looking to trade an eventual pullback can track the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>).
It should be noted that Direxion&rsquo;s leveraged funds are designed for short-term traders and shouldn&rsquo;t be held for a long period of time.
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://www.benzinga.com/pro/">Click here for a free trial</a>.
The SOXL Chart: SOXL has been trading in a fairly consistent uptrend since Oct. 31, when the stock formed a bullish double-bottom pattern at the $14.09 mark. Since Dec. 14, SOXL&rsquo;s uptrend has been taking place within a rising channel pattern, which is considered to be bullish until a stock or ETF breaks down from the lower ascending trend line of the formation.
<ul>
<li>Although SOXL&rsquo;s price has been making higher highs and higher lows, the ETF&rsquo;s relative strength index (RSI) has been making a series of lower lows. This has caused bearish divergence to occur on SOXL&rsquo;s chart, which indicates the ETF is losing momentum.</li>
<li>Bullish traders want to see SOXL close Thursday&rsquo;s trading session above the Feb. 23 high of $42.68, which will cause the higher high to be confirmed, indicating the uptrend remains intact. Bearish traders want to see SOXL close under that level, which could cause a bullish double-top pattern to form, indicating a retracement is on the horizon.</li>
<li>SOXL has resistance above at $44.97 and at the psychologically important $50 mark. The ETF has support below at $41.60 and at $39.53.<img alt="screenshot_242.png" src="https://www.benzinga.com/files/u278075/screenshot_242.png" style="height:361px; width:760px" /></li>
</ul>

Penny Stocks

SOXL Soars Toward New Highs: NVIDIA And AMD Fuel Semiconductor Sector Rally

Direxion Daily Semiconductor Bull 3X Shares (ARCA: SOXL) was diving over 7% lower Tuesday, in tandem with the general market, which saw the S&amp;P 500 gap down to trade about 0.5% under Friday&rsquo;s closing price after inflation data released last week&nbsp;<a href="https://www.msn.com/en-us/money/other/why-these-2-wall-street-economists-not-too-concerned-by-january-s-hot-inflation-maintain-prediction-for-may-rate-cut/ar-BB1ixz8E">for January remained high</a>.
The semiconductor sector has been experiencing a bull cycle, with NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) making a series of new all-time highs amid continued interest in the company&rsquo;s grasp on artificial intelligence. On Tuesday, Nvidia was dropping about 6%, suggesting the double top pattern the stock printed at the $746.11 mark on Feb. 12 and Friday was recognized.
SOXL is <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">a triple-leveraged fund</a> that consists of a variety of stocks in the semiconductor sector. Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) makes up 8.67% of the fund, while Nvidia is weighted at 7.54%.
Read Next:&nbsp;<a href="https://www.benzinga.com/trading-ideas/24/02/37216808/meta-amazon-and-netflix-will-these-three-leading-growth-stocks-hold-gap-support">Meta, Amazon, And Netflix: Will These Three Leading Growth Stocks Hold Gap Support?</a>
Trending:&nbsp;<a href="https://www.benzinga.com/general/24/02/37214114/why-nvidia-shares-are-getting-hammered-today">Why NVIDIA Shares Are Getting Hammered Today</a>
While the tech sector has been surging over recent months, the S&amp;P 500 printed a bearish engulfing candlestick on Friday, signaling the local top may be in for the stock market. Many stocks have become overbought recently, trading with a relative strength index that measures near or above the 70% mark, which suggested a pullback was likely near.
Nvidia is set to print quarterly earnings on Wednesday and Wall Street&rsquo;s reaction to the news may set the tone for big tech stocks over the next few trading days. For the fourth quarter, Nvidia is expected to print earnings per share of $4.53 on revenues of $20.24 billion.
Heading into the event, traders who are bearish on the semiconductor sector can track the Direxion Daily Semiconductor Bear 3X Shares (ARCA: SOXS).
It should be noted that Direxion&rsquo;s leveraged funds are designed for short-term traders and shouldn&rsquo;t be held for a long period of time.
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://www.benzinga.com/pro/">Click here for a free trial</a>.
The SOXL Chart: SOXL has been trading in a fairly consistent uptrend since Oct. 31 and on Dec. 14, the ETF began forming a rising channel pattern. A rising channel pattern is considered to be bullish until a security breaks down from the lower ascending trend line of the formation.
<ul>
<li>On Tuesday, SOXL tested the lower trend line as support and was attempting to bounce up from that area. If SOXL holds within the pattern, the local low may be in and a bounce could be on the horizon for Wednesday.</li>
<li>If SOXL breaks down from the rising channel on higher-than-average volume, the ETF&rsquo;s downtrend will be in play and selling pressure could accelerate. If that happens, SOXS is likely to surge higher and confirm a new uptrend.</li>
<li>SOXL has resistance above at $37.10 and at $39.53 and support below at $33.10 and at $28.62.<img alt="screenshot_229.png" src="https://www.benzinga.com/files/u278075/screenshot_229.png" style="height:360px; width:760px" /></li>
</ul>

Nvidia Stock Dives Ahead Of Q4 Print, Drags Direxion SOXL ETF Toward Breaking Point: A Technical Analysis

Direxion Daily Semiconductor Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxl#NYSE">SOXL</a>) was retracing almost 4% Wednesday on lower-than-average volume, which may confirm the ETF&rsquo;s possible <a href="https://www.benzinga.com/money/stock-chart-patterns">bull flag pattern remains intact</a>.
The semiconductor sector has been experiencing a bull cycle, with NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) making a series of new all-time highs amid increased interest in the company&rsquo;s grasp on artificial intelligence.
SOXL is a triple-leveraged fund that consists of a variety of stocks in the semiconductor sector. Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) makes up 7.23% of the fund, while Nvidia is weighted at 8.39%.
See Also:
Tech stocks, including chipmaker stocks, have also enjoyed bullish price action recently, matching the positive movements seen in the general markets.
On Wednesday, the S&amp;P 500 looked to be printing a bearish kicker candlestick, however, signaling the local top may be in. An eventual rebound on the index and individual stocks could provide a solid entry for bullish traders and if the move takes place, <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">SOXL offers 3X leverage</a>.
Traders who are bearish on the semiconductor sector can track the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>).
It should be noted that Direxion&rsquo;s leveraged funds are designed for short-term traders and shouldn&rsquo;t be held for a long period of time.
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.
The SOXL Chart: SOXL&rsquo;s possible bull flag pattern was created between Aug. 25 and Wednesday, with the upward-sloping&nbsp;pole formed over the first six trading days of that timeframe and the flag forming since. If SOXL breaks up from the flag on higher-than-average volume, the measured move is about 26%, which suggests the ETF could rise toward the $29 level.
<ul>
<li>SOXL is also trading in an uptrend, making a series of higher highs and higher lows. The ETF&rsquo;s most recent higher high was formed on Sept. 1 at $24.51 and the most recent confirmed higher low was printed at the $19.40 mark on Aug. 25.</li>
<li>If SOXL closes Wednesday&rsquo;s trading session above the eight-day exponential moving average, the ETF will form a bullish reversal candlestick, which could indicate the next higher low has occurred and the ETF will rise on Thursday.</li>
<li>If the ETF falls under the eight-day EMA, the bull flag will be negated and downward pressure could accelerate.</li>
<li>SOXL has resistance above at $25.60 and at $28.62 and support below at $22.12 and at $17.66.</li>
</ul>
<img alt="screenshot_3_0.png" src="https://www.benzinga.com/files/u278075/screenshot_3_0.png" style="height:427px; width:760px" />Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/09/34240520/microsoft-and-abu-dhabis-g42-forge-strategic-ai-and-cloud-partnership">Microsoft and Abu Dhabi&#39;s G42 Forge Strategic AI and Cloud Partnership</a>

Bullish On NVDA, AMD? This 3x Leveraged Fund Offers Exposure And Is Setting Up A Bull Flag Pattern

Direxion Daily Semiconductor Bear 3X Shares&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) was surging almost 13% at one point on Wednesday following a bearish reaction to Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) <a href="https://www.benzinga.com/news/earnings/23/08/33506515/amd-q2-beats-estimates-as-server-pc-chip-demand-improves-chipmaker-signals-strong-engagement-ahead-">quarterly earnings print</a>.&nbsp;
A US sovereign credit downgrade issued by Fitch Ratings was also pulling the general market <a href="https://www.benzinga.com/news/earnings/23/08/33518247/stock-futures-dive-after-fitch-us-downgrade-why-this-analyst-forecasts-pretty-painful-and-tricky-au">considerably lower</a>. &nbsp;
SOXS's move higher came after the ETF printed a bullish double bottom pattern on Monday and Tuesday, which suggested a bullish break higher was on the horizon for the bearish fund.&nbsp;
The semiconductor sector had been experiencing a bull cycle, with&nbsp;NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) flying in blue skies amid reports the company will become&nbsp;an anchor investor&nbsp;in Softbank Group Corp-backed British chip designer Arm IPO. The news had helped to pull Advanced Micro Devices higher.&nbsp;
SOXS is <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">a triple-leveraged fund</a> that tracks a variety of stocks in the semiconductor sector.&nbsp;AMD makes up 7.23% of the fund, while Nvidia is weighted at 8.4%.&nbsp;
See Also:&nbsp;&nbsp;
Traders who are bullish on the semiconductor sector can track the&nbsp;Direxion Daily Semiconductor Bull 3X Shares&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>)&nbsp;
It should be noted that Direxion's&nbsp;leveraged funds&nbsp;are designed for short-term traders and shouldn't be held for a long period of time.&nbsp;
Want direct analysis? Find me in the BZ Pro lounge!&nbsp;<a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.&nbsp;
The SOXS Chart: When SOXS surged higher on Wednesday, the ETF rejected from the upper descending trend line of a falling wedge pattern. Although SOXS may continue to consolidate under the area for a period of time, the pattern leans bullish for an eventual break higher.&nbsp;
<ul>
<li>For now, SOXS is trading in a downtrend, making a series of lower highs and lower lows. The fund's most recent lower low&nbsp;was formed on Monday at $8.17 and the most recent confirmed lower high was printed at the $9.73 mark on July 26.&nbsp;</li>
<li>If SOXS eventually breaks up from the wedge pattern and forms a higher high, the downtrend will be negated and a longer-term uptrend could be on the horizon. The fund has been seeing increasing volume over the last three trading days, which suggests the bears have become more interested in the semiconductor sector.&nbsp;</li>
<li>SOXS has resistance above at $11.11 and at $12.62 and support below at $8.17 and at the psychologically important $8 mark.&nbsp;</li>
</ul>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/08/02143049/Screenshot-2630-1024x576.png" alt="" class="wp-image-79975" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/08/02143049/Screenshot-2630-1024x576.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/08/02143049/Screenshot-2630-300x169.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/08/02143049/Screenshot-2630-768x432.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/08/02143049/Screenshot-2630.png 1366w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/08/33522200/whats-going-on-with-nvidia-stock-wednesday">What&#8217;s Going On With Nvidia Stock Wednesday?</a>

Bearish On The Semiconductor Sector Following AMD Earnings Reaction? This Fund Offers 3X Leverage

Direxion Daily Semiconductor Bull 3X Shares (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soxl#NASDAQ">SOXL</a>) was trading slightly higher Monday, ahead of Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) quarterly earnings print, which will be released Tuesday <a href="https://www.benzinga.com/calendars/earnings">after the market closes</a>.
The semiconductor sector has been experiencing a bull cycle, with NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) making a series of new all-time highs amid an increased interest in companies related to artificial intelligence.
SOXL is a <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs?keyword=soxl">triple-leveraged fund</a> that consists of a variety of stocks in the semiconductor sector. Advanced Micro Devices makes up 7.23% of the fund, while Nvidia is weighted at 8.4%.
Tech stocks, including chipmaker stocks, have also enjoyed bullish price action recently, matching the positive movements seen in the general markets.
On Monday, the S&amp;P 500 looked to be printing a bearish reversal candlestick, however, signaling the local top may be in. An eventual retracement on the index and individual stocks could provide a solid entry for bullish traders and if the move takes place, SOXL offers 3X leverage.
Traders who are bearish on the semiconductor sector can track the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>).
It should be noted that Direxion&rsquo;s leveraged funds are designed for short-term traders and shouldn&rsquo;t be held for a long period of time.
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.
The SOXL Chart: SOXL was attempting to break up through heavy resistance just under the $29 mark on Monday after rejecting the area multiple times between July 17 and Friday. The ETF was working to print a doji candlestick, which could indicate the local top has occurred and SOXL will retrace on Tuesday.
<ul>
<li>On July 20, SOXL reversed into an uptrend and has since made a higher low at $24.21 on July 26 and since then, the ETF has printed a series of higher highs. If SOXL falls later this week, bullish traders want to see the ETF form a bullish reversal candlestick above $25 to indicate the trend will continue.</li>
<li>Bearish traders want to see SOXL&rsquo;s potential double top pattern play out, which could drop the ETF into at least a short-term downtrend.</li>
<li>SOXL has resistance above at $28.62 and at $33.10 and support below at $25.60 and at $22.12.</li>
</ul>
<img alt="screenshot_2621.png" src="https://www.benzinga.com/files/u278075/screenshot_2621.png" style="height:427px; width:760px" />
Read More:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/07/33471037/volatility-pops-as-stock-market-trades-muted-ahead-of-big-earnings-week-this-fund-offers">Volatility Pops As Stock Market Trades Muted Ahead Of Big Earnings Week: This Fund Offers 1.5X Leverage</a>

Bullish On The Semiconductor Sector Ahead Of Advanced Micro Devices Earnings? This ETF Offers 3X Leverage

Direxion Daily Semiconductor Bull 3X Shares (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soxl#NASDAQ">SOXL</a>) spiked 0.7% on Friday morning before falling to trade mostly flat to Thursday&rsquo;s close. The ETF recently made another bull break since breaking up from an inside bar pattern, which Benzinga <a href="https://www.benzinga.com/markets/asia/23/06/33047302/nvidia-amd-pull-back-as-biden-administration-weighs-ban-on-ai-chip-exports-to-china-this-fund-tracks">called out on June 28</a>.
The semiconductor sector has been experiencing a bull cycle, with NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) flying in blue skies amid reports the company will become <a href="https://www.benzinga.com/news/23/07/33230699/whats-going-on-with-nvidia-stock-friday">an anchor investor</a> in Softbank Group Corp-backed British chip designer Arm IPO. The news has helped to pull Advanced Micro Devices higher.
SOXL is a triple-leveraged fund that consists of a variety of stocks in the semiconductor sector. Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) makes up 7.03% of the fund, while Nvidia is weighted at 8.81%.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/23/07/33221822/shiba-inu-flies-higher-in-tandem-with-dogecoin-as-crypto-sector-reacts-to-xrp-judgement-a-">Shiba Inu Flies Higher In Tandem With Dogecoin As Crypto Sector Reacts To XRP Judgement</a>
Tech stocks, including chipmaker stocks, have also enjoyed bullish price action recently, matching the positive movements seen in the general markets.
On Friday, the S&amp;P 500 looked to be printing a bearish reversal candlestick, however, signaling the local top may be in. An eventual retracement on the index and individual stocks could provide a solid entry for bullish traders and if the move takes place, SOXL offers 3X leverage.
Traders who are bearish on the semiconductor sector can track the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>).
It should be noted that Direxion&rsquo;s <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">leveraged funds</a> are designed for short-term traders and shouldn&rsquo;t be held for a long period of time.
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.
The SOXL Chart: Like the S&amp;P 500, SOXL was looking to print a reversal candlestick Friday, in the form of a gravestone doji, which may signal the next higher high has a card and a retracement is on the horizon. SOXL&rsquo;s most recent higher low was formed on July 6 at $22.04, and if the uptrend continues, the ETF will print a bullish reversal candlestick above that area on the next dip.
<ul>
<li>The ETF could also reverse course off the eight-day exponential moving average (EMA) on its next retracement because the indicator has been guiding SOXL higher since July 10. SOXL has become extended from the eight-day EMA, which also indicates a pull back is on the horizon.</li>
<li>The downturn from Friday&rsquo;s high-of-day was taking place on lower-than-average volume, which suggests some bulls are taking profit as opposed to the bears regaining control. Bearish traders want to see big bearish volume come in before feeling confident that SOXL&rsquo;s bull cycle is complete.</li>
<li>SOXL has resistance above at $27.30 and $30.57 and support below at $22.12 and $17.66.</li>
</ul>
<img alt="screenshot_2576.png" src="https://www.benzinga.com/files/u278075/screenshot_2576.png" style="height:427px; width:760px" />Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/07/33231665/whats-going-on-with-amd-shares">What&#39;s Going On With AMD Shares</a>

Bullish For Nvidia, AMD? This Fund Offers 3X Leverage And It May Be About To Dip

Direxion Daily Semiconductor Bear 3X Shares&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NASDAQ">SOXS</a>) shares are trading higher by 4.70% to $10.59 Wednesday morning. The ETF is rising amid reports of the U.S. planning to revise its export controls on AI chips to limit China&#39;s <a href="https://www.benzinga.com/markets/asia/23/06/33041405/nvidia-chipmakers-brace-for-impact-as-us-mulls-new-chip-export-restrictions-to-china-could-this-end">access to advanced technologies with military applications</a>.
What Else?
Per a <a href="https://www.wsj.com/articles/u-s-considers-new-curbs-on-ai-chip-exports-to-china-56b17feb">report</a> by the Wall Street Journal, the Biden administration is considering new restrictions on AI chip exports to China and other countries of concern.
The Commerce Department may require a license for chip shipments made by companies like NVIDIA Corp. These potential measures expand upon existing export control rules. Per the Wall Street Journal, the Commerce Department has not yet responded to requests for comment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, SOXS&nbsp;has a 52-week high of $89.59 and a 52-week low of $9.48.

Why Direxion Daily Semiconductor Bear ETF (SOXS) Is Rising

Direxion Daily Semiconductor Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxl#NYSE">SOXL</a>) skyrocketed almost 20% higher last Friday and printed a massive <a href="https://www.benzinga.com/money/how-to-read-candlestick-charts">bullish kicker candlestick</a> on the daily chart.
The semiconductor sector has seen bullish momentum since NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>)&nbsp;reported <a href="https://www.benzinga.com/23/05/32596385/nvidias-impressive-earnings-propel-stock-up-over-24-heres-a-detailed-analysis-of-the-tech-titans-rec">its quarterly earnings</a>, which caused the stock to reach a new all-time high. SOXL is a triple-leveraged fund that consists of a variety of stocks in the semiconductor sector. Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) makes up 7.03% of the fund, while Nvidia&nbsp;is weighted at 8.81%.
Tech stocks, including chipmaker stocks, have enjoyed bullish price action recently, matching the positive movements seen in the general markets. On Friday, the S&amp;P 500 closed just under a heavy resistance level near $420 and if the market ETF can regain the level as support, tech stocks could run higher.
Must Read:&nbsp;<a href="https://www.benzinga.com/government/23/05/32615957/a-look-at-the-spy-heading-into-the-week-with-bidens-tentative-debt-ceiling-deal-in-focus">A Look At The SPY Heading Into The Week With Biden&#39;s Tentative Debt Ceiling Deal In Focus</a>
Traders who are bearish on the semiconductor sector can track the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>).
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.
The SOXL Chart: SOXL gapped up to open Friday&rsquo;s trading session and closed near the high-of-day, which caused the ETF to print a bullish kicker candlestick. The candlestick suggests SOXL could trade higher again on Monday.
<ul>
<li>The move higher on Thursday and Friday also appears to be an upward break from a bull flag pattern on the daily chart. The formation was created between May 15 and May 23, with a measured move of almost 27%, which suggests SOXL could run up toward the $21 mark, but the ETF has already surpassed that.</li>
<li>If SOXL fails to trade higher on Monday, the next most likely scenario is that the ETF consolidates sideways and forms an inside bar pattern. If that happens, the pattern leans bullish for continuation.</li>
<li>Eventual consolidation is also likely to take place over the next few days because SOXL&rsquo;s relative strength index (RSI) reached about 76% on Friday. When a stock or ETF&rsquo;s RSI reaches or exceeds the 70% mark&nbsp;it becomes overbought, which can be a sell signal for technical traders.</li>
<li>SOXL has resistance above at $27.30 and $30.57 and support below at $22.12 and $17.66.</li>
</ul>
<img alt="screenshot_2459.png" src="https://www.benzinga.com/files/u278075/screenshot_2459.png" style="height:427px; width:760px" />
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/05/32612105/nvidia-ceo-calls-for-urgent-action-embrace-ai-or-risk-being-left-behind">Nvidia CEO Calls For Urgent Action: Embrace AI Or Risk Being Left Behind</a>
Photo: Shutterstock

Bullish On Nvidia, AMD? This Leveraged Fund Tracks The Semiconductor Sector

Direxion Daily Semiconductor Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxl#NYSE">SOXL</a>) rebounded over 5% higher last&nbsp;Friday to close the trading session above the<a href="https://www.benzinga.com/money/200-day-moving-average"> 200-day simple moving average (SMA)</a>.
Although the semiconductor sector has seen a steep drop since March 31, SOXL&rsquo;s recent reversal could provide a solid trade for investors with a high risk-reward appetite. SOXL is a triple-leveraged <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">fund</a> that consists of&nbsp;a variety of stocks in the semiconductor sector. Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) makes up 7.03% of the fund, while&nbsp;NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is weighted at 8.81%.
Tech stocks, including chipmaker stocks, have enjoyed bullish price action recently, matching the&nbsp;positive movements seen&nbsp;in the general markets. On Friday, the S&amp;P 500&nbsp;broke&nbsp;through heavy resistance near $414, suggesting that the stock market could be headed higher.
Traders who are bearish on the semiconductor sector can track the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>).
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.
The SOXL Chart: After printing&nbsp;a bullish hammer candlestick pattern on Thursday, SOXL shot higher on Friday to close near the high-of-day, suggesting higher prices could come&nbsp;on Monday.
<ul>
<li>The&nbsp;ETF, however, could also trade sideways and print&nbsp;an inside-bar pattern on&nbsp;Monday, which would lean bullish for continuation. Eventually,&nbsp;SOXL&nbsp;would&nbsp;have to retrace to print at least a higher low, which would confirm a new uptrend and provide a possible solid entry point&nbsp;for traders who aren&rsquo;t already in&nbsp;the position.</li>
<li>When SOXL eventually retraces lower, the stock may find support at the 200-day SMA. Traders can then wait&nbsp;for the ETF to print a possible reversal candlestick pattern, such as a doji&nbsp;candle or hammer candlestick pattern, above the area. If SOXL drops below that level, however, bearish traders may gain control.</li>
<li>SOXL has resistance above&nbsp;$16 and $17.66 and support below&nbsp;$14.09 and $12.13.</li>
</ul>
<img alt="soxl_apr_28.png" src="https://www.benzinga.com/files/u278075/soxl_apr_28.png" style="height:427px; width:760px" />
Read Next:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/04/32097759/is-the-spy-headed-for-a-bull-cycle-this-fund-offers-3x-leverage-quick-take-technical-ana">Is The SPY Headed For A Bull Cycle? This Fund Offers 3X Leverage: Quick Take Technical Analysis</a>

Bullish On AMD And Nvidia? This Direxion ETF Offers 3x Leverage On Semiconductor Stocks

Direxion Daily Semiconductor Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxl#NYSE">SOXL</a>) was trading down Friday, consolidating a recent rise, which saw the ETF surge almost 70% since Dec. 28.
The semiconductor sector suffered a steep most of last year, which caused SOXL to plummet almost 90% in 2022.
SOXL&rsquo;s recent reversal &mdash; paired with a solid and confirmed uptrend &mdash; could provide a solid trade for traders with a high risk-reward appetite.
See Also: <a href="https://www.benzinga.com/news/23/01/30605751/billionaire-blows-ackman-kicks-seventh-richest-man-while-hes-down-calling-adani-fraud-report-credibl">Billionaire Blows - Ackman Kicks Seventh Richest Man While He&#39;s Down, Calling Adani &#39;Fraud&#39; Report &#39;Credible&#39;</a>
SOXL is a triple-leveraged fund that offers 3x daily leverage to bullish movements across a variety of stocks in the semiconductor sector.
The <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">ETF</a> tracks a number of semiconductor companies through its holdings. Popular companies such as Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) make up 5.8% of the fund and NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is weighted at 7.71%.
Tech stocks, including chipmakers, have enjoyed bullish price action recently, in tandem with positive movements in the general markets. The S&amp;P 500 and the Nasdaq recently regained the 200-day simple moving average, suggesting the stock market could be headed higher, possibly bringing an end to the bear market.
It should be noted that leveraged ETFs are meant to be used as a trading vehicle as opposed to long-term investments by experienced traders. Leveraged ETFs should never be used by an investor with a buy-and-hold strategy or those who have low-risk appetites.
Traders who are bearish on the semiconductor sector can track the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>).
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.
The SOXL Chart: SOXL opened slightly lower on Friday and was trading in an inside bar, with all the price action taking place within Thursday&rsquo;s trading range. The inside bar indiates the ETF is in a period of consolidation.
<ul>
<li>SOXL reversed course into an uptrend on Dec. 28 and has made a consistent series of higher highs and higher lows since that date. The ETF&rsquo;s most recent higher low was formed on Wednesday and $13.33 and the most recent confirmed higher high was printed at the $14.91 mark on Monday.</li>
<li>If SOXL breaks up from Thursday&rsquo;s mother bar later on Friday or on Tuesday, the uptrend will remain intact and the ETF will regain the 200-day simple moving average as support. If that happens, SOXL could be in for a larger reversal to the upside.</li>
<li>SOXL has resistance above at $16 and $17.66 and support below at $14.09 and $12.13.</li>
</ul>
<img alt="soxl_jan._27.png" src="https://www.benzinga.com/files/u278075/soxl_jan._27.png" style="height:427px; width:760px" />Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/01/30603044/4-intel-analysts-react-to-historic-collapse-in-q4-as-investors-head-for-exits">4 Intel Analysts React To &#39;Historic Collapse&#39; In Q4 As Investors Head For Exits</a>

Bullish On Semiconductor Stocks? Trading Stratagies For This 3X Leveraged ETF (SOXL)

Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/soxs#NYSE">SOXS</a>) was trading up over 5% on Monday, rebounding from a bearish day on Friday, which dropped the ETF over 11%.
The semiconductor sector has recently reversed into a slight uptrend, with Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) and Nvidia Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) trading higher since Oct. 13.
<a href="https://www.benzinga.com/trading-ideas/movers/22/10/29482665/whats-going-on-with-amd-shares">Read more about AMD&#39;s price action on Monday here</a>
Due to the bullish action in the semiconductor sector, SOXS has been trading in a steep downtrend, losing over 32% since reaching an $89.59 high-of-day on that same day.
SOXS is a triple-leveraged fund that offers 3x daily short leverage to the PHLX Semiconductor Index. The ETF <a href="https://www.direxion.com/product/daily-semiconductor-bull-bear-3x-etfs">tracks</a> inversely to a number of semiconductor companies through its holdings in three Dreyfus Government Cash Management Funds Institutional, weighted at a total of 58.29%.
SOXS&rsquo; recent downtrend has developed between parallel trendlines, which has settled the ETF into a falling channel pattern on the daily chart. The pattern is considered to be bearish until a stock or ETF breaks up from the upper descending trendline of the pattern.
If AMD receives a bearish reaction to its earnings print, scheduled for Tuesday after the market close, it could power SOXS to break up bullishly from the channel.
It should be noted that leveraged ETFs are meant to be used as a trading vehicle as opposed to a long-term investment by experienced traders. Leveraged ETF&rsquo;s should never be used by an investor with a buy and hold strategy or those who have low risk appetites.
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here</a> for a free trial.
The SOXS Chart: SOXS slid into a falling channel pattern on Oct. 14 and on Monday, the ETF opened slightly higher and was holding above the median line of the channel. The ETF also regained support at the 50-day simple moving average (SMA), which is bullish for SOXS and bearish for the semiconductor sector.
<ul>
<li>Bullish SOXS traders will want to see the ETF break up from the upper descending trend line of the channel on higher-than-average volume. If that happens, it will be because AMD and NVDA have broken down from their uptrends.</li>
<li>SOXS closed the trading day near its high-of-day price, which caused the ETF to print a bullish Marubozu candlestick. This could indicate higher prices will come on Tuesday. If higher prices do come, SOXS will regain the eight-day exponential moving average as support, which would be a good sign for bearish semiconductor traders.</li>
<li>SOXS has resistance above at $63.21 and $70.90 and support below at $58.10 and $53.</li>
</ul>
<img alt="soxs_oct._31.png" src="https://www.benzinga.com/files/u278075/soxs_oct._31.png" style="height:427px; width:760px" />
See Also:&nbsp;<a href="https://www.benzinga.com/markets/asia/22/10/29389990/chinas-wartime-cabinet-is-complete-what-xi-jinpings-loyalists-mean-for-us-stocks-investing-chip-sect">China&#39;s &#39;Wartime Cabinet&#39; Is Complete: What Xi Jinping&#39;s Loyalists Mean For US Stocks, Investing, Chip Sector, Taiwan</a>
Photo: Courtesy of shutterstock.com

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Leveraging Trades On Semiconductors With SOXL And SOXS

엔비디아(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)는 반도체 회사들과 <a href="https://www.benzinga.com/topic/magnificent-seven">매그니피센트 7 주식들</a> 중에서 눈에 띄는 성과를 거두었다.
그런데 2024년 <a href="https://www.benzinga.com/quote/NVDA/news" target="_blank" rel="noopener" data-google-interstitial="false">하반기</a>까지 선두 자리를 유지할 수 있을까?
디렉시온(Direxion)의 매니징 디렉터인 에드 이질린스키(Ed Egilinsky)는 자신의 통찰력을 공유하고 이 거대 기술 회사의 주요 동인과 잠재적인 역풍에 대해 조명한다.
<h2 class="wp-block-heading">엔비디아의 높은 주는 투자자들에게 일시 중지를 제공</h2>
이질린스키는 "엔비디아는 지난 몇 년 동안 기술 분야에서 충실한 역할을 해왔다"고 인정한다. "그러나 현재의 가치 평가로 인해 일부 투자자들은 잠시 멈추게 될 수도 있다. 엔비디아가 칩 분야, 특히 AI 관련 칩 분야의 선두주자라는 점은 부인할 수 없다. 그들은 앞으로 몇 년 동안 이 분야에서 주목할만한 선수가 될 것이다."
하지만 챔피언도 가끔은 숨 한번 돌리고 싶어한다. 주식 분할 이후, 엔비디는 다음 두 가지 면에서 모두 성적을 내지 못했다:
<ul>
<li>VanEck Semiconductor ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) 및 iShares Semiconductor ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)가 추적하는 광범위한 반도체 지수와</li>
<li>Invesco QQQ Trust, Series 1(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)에서 추적하는 나스닥 100 지수</li>
</ul>
따라서 이질린스키는 경쟁이 심화되거나 수요가 둔화되면 이 높은 가치 평가가 재평가될 수 있다고 믿고 있다.
다음 읽기: <a href="https://www.benzinga.com/government/24/07/39646273/is-nvidia-defying-us-export-controls-whats-going-on">미중 무역 갈등에도 불구하고 엔비디아, 새로운 AI 칩에서 중국에 120억 달러를 벌어</a>
<h2 class="wp-block-heading">엔비디아의 강세론자와 약세론자 모두에 기회</h2>
엔비디아의 주가는 연초 대비 대부분 상승세를 보였지만 이질린스키는 강세론자들(bulls)과 약세론자들(bears) 모두에게 여지가 있다고 본다. "방향에 관계없이 엔비디아 주식과 단기 가격 변동을 거래하려는 활동적인 거래자들을 위해 디렉시온은 이러한 기회를 활용할 수 있는 도구를 제공한다"고 그가 말한다.
엔비디아의 인상적인 성과에도 불구하고 주식 시장 환경은 여전히 ​​역동적이다. 이질린스키는 &#8220;우리의 레버리지 ETF는 활성/단기 거래용으로 설계되었으며 매일 모니터링해야 한다&#8221;고 조언한다.
더 큰 그림을 보는 트레이더들에게는 더 넓은 반도체 공간이 그 자체로 기회를 제공한다.
이질린스키는 Direxion Daily Semiconductor Bull 3x Shares(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) 및 Direxion Daily Semiconductor Bear 3x Shares(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) ETF들이 전체 부문에 대한 입장을 취하고 싶어하는 사람들에게 적합하다는 점을 강조한다.
"현재 우리의 가장 큰 ETF는 자산이 100억 달러가 넘는 SOXL ETF이다. 그러나 연초부터 반도체 부문의 랠리로 인해 우리는 3X Bear 반도체(SOXS)로 순 유입되고 3X Bull(SOXL)로 유출되는 것을 확인했다"고 이질린스키가 말했다.
<h2 class="wp-block-heading">엔비디아의 다음 주</h2>
엔비디아가 2024년 하반기를 헤쳐나가면서 풍부한 가치 평가와 잠재적인 경쟁 사이의 균형이 중요할 것이다. 이질린스키는 "경쟁이 심화되거나 수요 둔화로 인해 엔비디아의 현재 풍부한 가치 평가가 재평가될 수 있다"고 예측한다.
현재 엔비디아는 기술 부문의 주요 플레이어로 남아 있지만 활동적인 거래자들은 경계심을 유지해야 한다.
다른 트레이더들보다 30분 일찍 독점 시장 움직임 뉴스를 받아보세요 
Benzinga Pro의 14일 무료 체험을 통해 독점 뉴스 기사를 이용할 수 있어 수백만 명의 다른 트레이더보다 먼저 실행 가능한 거래 뉴스를 얻을 수 있습니다. <a href="https://www.benzinga.com/pro/register?t=be2bewe5mibe3bz3&amp;utm_source=bz-kor" target="_blank" rel="noreferrer noopener">여기를 클릭</a>하여 14일 무료 체험을 시작하세요.

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