Not sure if this will be of any importance just yet. But SOX is in a two day divergence from NDX now. I have a feeling that AAPL, GOOG, AMZN, and PCLN's retail exposure is driving the rally (with XRT @ all-time high), while the cyclical nature of SOX is pulling it down.
Lets look at technicals: SOX is pulling back from hitting a laminate of upper daily BB and resistance at 5/25 - prior support, with falling 50 dsma just above. Price is currently @ 8/21 dema laminate support, and cup & handle chart formation has now developed. Handle usually goes back 50% of fib retrace, which is @ 403; there is also another support there, which was top of engulfing daily on 6/23.
We are to monitor this closely for possible trouble ahead if 403 goes...
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