One interesting aspect of Wednesday’s action is that the SOX (Semiconductor Index) did so well, gaining 1.92%, despite the decline in the Nasdaq.  When this has happened in the past, it has often been the SOX that has been “right” – at least with regards to the following day.  This can be seen in the study below.

The Nasdaq has risen the next day 71% of the time and the average net gain has been over 0.8%.   These are impressive numbers that suggest a 1-day upside edge for the Nasdaq.