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Semiconductor index nears short-term peak, limited upside before a deeper pullback expected.

Market News
26 May 2026
FXEmpire
View Source
Neutral
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The semiconductor index (SOX) is currently in a broad uptrend but is approaching the peak of its fifth wave, signaling limited short-term gains ahead. After hitting a high around $12,830, the index is expected to reach $13,400-$14,000 before a significant retracement to about $9,600 occurs. This pattern aligns with Elliott Wave Principle forecasts, which have accurately predicted recent highs and lows. Despite the near-term pullback, the longer-term rally remains intact, with potential to reach $15,000 in the future.

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Sodexo wins major global catering contract with Meta for 130+ sites in 30+ countries

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Frasers Group delays guidance amid takeover bids and reports 4% profit drop

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Ethereum outperforms Bitcoin amid early large-cap rotation in crypto markets.

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Gabriel sells its European FurnMaster furniture business to Leggett & Platt for about EUR 9 million

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Bitcoin crowdfunding offers direct aid to crisis zones where traditional platforms fail due to banking restrictions.

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