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Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, observes that semi ETFs are dominating pre-market trading, with 10 out of the top 15 most traded ETFs being semiconductor-related, including SOXL at the top position.
Balchunas highlights that ETF trading volume often correlates with fear in the market but can also indicate local market bottoms.
Earlier, Balchunas reported that traders have been actively buying and selling TQQQ and SOXL, driving significant volume in these leveraged ETFs. He also recently noted the end of Invesco's 27-year control over the Nasdaq index. Both developments reflect ongoing shifts in ETF trading patterns tracked by the analyst.