Invesco Semiconductor ETF Hits Record High as Technical Indicators Signal Weakening Momentum on June 18

SOXX6.15%
According to MarketWatch, Invesco Semiconductor ETF (SOXX-US) jumped 6.62% on Thursday (June 18), reaching a record closing high for the fourth time this month. However, technical indicators suggest underlying weakness. The RSI (Relative Strength Index), a key momentum indicator, shows a "bearish divergence" pattern, with lower highs and lower lows despite continued price appreciation. The RSI peaked at 85.73 on April 24 but has since declined to 64.43 as of this week, failing to confirm the latest price highs. BTIG technical analyst Jonathan Krinsky noted that market momentum is clearly weakening and volatility has turned bidirectional. Historically, this divergence pattern has preceded significant pullbacks, including a 15.8% decline in February 2025.
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