SOCL needs to hold above $19 to continue looking bullish from a technical perspective. SOCL’s close below $19 on October 9 was its first below that level in a month.

Catalysts loom for SOCL. During the last week of October, both Facebook and LinkedIn, a combined 22.3% of the ETF’s weight, report earnings.  The average forward P/E on those stocks is around 80.

Global X Social Media Index ETF

Tom Lydon’s clients own shares of Facebook.