Bullish breakout/retest for SOXX

The iShares Semiconductor ETF (SOXX) has a bullish breakout and retest pattern that supports the case for upside beyond the late October high at 312.79 toward the mid 2024 into mid to late 2025 big base pattern counts at 333 and 386. Continuing to hold the breakout and retest zone at 267-260 would keep this bullish setup in place.

Last week's close above the rising 13-week (quarterly) moving average (WMA) at 283 has refresh the bullish trend for SOXX, and the rising 26-WMA at 262 reinforces the bullish breakout and retest zone.

Bullish breakouts and retests are a theme in the wake of increases November volatility.

• See the prior post on the KraneShares CSI China Internet ETF (KWEB), which resembles the bullish breakout and retests for the Invesco China Technology (CQQQ) and SPDR S&P China (GXC) ETFs highlighted in our 11/25 Charted Market Insights.

• We also highlighted breakouts and retests for the ARK Autonomous Technology & Robotics ETF (ARKQ) and for the Global X Data Center & Digital Infrastructure ETF (DTCR) in Straight from the Chart on 11/24 and 11/26, respectively.

Chart 1:  iShares Semiconductor ETF (SOXX)