Chip stocks reclaim 10,500, but the real breakout is still missing

Detailed summary

The Philadelphia Semiconductor Index moves above 10,500 resistance to 10,631.16; its 1.38 ratio to the S&P 500 tests 1.4 from below.

The Philadelphia Semiconductor Index (SOX) has moved above the 10,500 resistance area, extending its rebound from the early-November low.

The index stood at 10,631.16, above the level flagged by market analyst Mark Ungewitter in a post on X.

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