Four Charts, One Overhead Line

Semiconductors have spent months compounding off their spring lows

Four charts, one line. SOXX now sits 34.3% above its 200-day average, SMH 28.3% above, XSD 28.9% above — and Monday’s close put all four core charts against their first major overhead test since the July drawdown, on the same day.

The tape itself was clean: SOXX +1.58% to 559.12, SMH +1.06% to 594.07, XSD +0.93% to 549.34, the memory-complex DRAM ETF +5…