$SOXX Attempting a ComebackiShares Semiconductor ETFBATS:SOXXROW_PartnersOptions Expiration Distortion Volume is key. It’s a metric we give a lot of attention to. We see a massive volume spike on Friday the 17th. However, it’s a classic quarterly/monthly options expiration noise. Relying on it as pure institutional accumulation is risky when market makers were just rebalancing and rolling delta exposure. Volume Divergence The lightened volume bars over the last few sessions after the 17th show buyers aren't aggressively pushing this bounce. It looks more like a low volume drift back toward moving averages than a decisive trend reversal. Resistance & RSI Price is attempting to reclaim the short term moving averages, for 3 days now! The RSI downtrend line break is technically intact, but it lacks slope and momentum. A sideways drift in price can artificially break a sharp RSI trendline without actual buying strength. Conclusion Limbo. This can go either way…