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The Market Ear on sinking stocks.
Not so sexy SOX
SOX is down to trend channel lows, trading just above the 21 day moving average. This trend has stayed intact since mid April, but recall what Goldman’s Callahan pointed out last week (here): “… only years that started faster in the 30 year history of the index were 1995, 2000 & 2023.”
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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