Daily Pulse · · 17:30 CET · 6 min read · market · SOXX
In this edition
Pattern alerts
- SOXX six-day-slide-19-5pct-below-june-high WARNING
- IGV profit-taking-before-october-28-reports WARNING
- BAC q3-2026-miss-1-2bn-penalty WARNING
Three pieces of news landed on the AI trade within two days, and none of them helped. September’s consumer prices came in hotter than expected, the largest asset manager in the world told its clients to stop leaning into US stocks, and by late morning in New York the selling had spread from chips to software. We read the next two to three weeks — earnings, a Fed meeting and the 3 November midterms — as a rough stretch.
The day so far
Table as text
| Market | Today | Where it stands |
|---|---|---|
| Chip fund SOXX | −3.0% | −9.5% in five sessions; 19.5% below its 22 June high |
| Chip fund SMH | −2.6% | 14.4% below its 22 June high |
| Software fund IGV | −2.4% | 3.8% below its 9 October high; +5.6% this year |
| Cloud fund CLOU | −2.6% | 3.7% below its 9 October high |
| Nasdaq-100 (QQQ) | −1.3% | 3.4% below its 6 October high |
| S&P 500 (SPY) | −0.8% | 1.0% below its 6 October high |
| 10-year Treasury yield | 5.26% | 5.22% at Tuesday’s close |
| Dollar fund UUP | +0.8% | euro at $1.111 |
Quotes at about 15:15 UTC (11:15 in New York), from the site’s market strip and Yahoo Finance; changes computed against Tuesday’s close in the Closelooknet data lake. Highs are closing highs.
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