SOXX (semiconductor sector ETF) was highlighted as an objective short entry in this February 8th video with an additional or alternative entry or add-on to come on a break below the minor uptrend line/wedge pattern. From there, SOXX triggered the alternative entry on a break below the wedge & went on to hit the first price target (~410) for a quick 5% gain. Following a slight & very brief overshoot of that 410ish support, SOXX has bounced back to the key 425ish resistance, thereby offering another objective short entry, add-on, or re-entry for those that booked profits at T1.
SOXX daily March 9th
I’ve also added some additional price targets to the daily chart above & plan to follow up with trade ideas on some of my favorite setups on individual semiconductor stocks for those that prefer trading individual stocks vs. ETFs, including the recently highlighted LONG trade idea on INTC (Intel) which I can be used as a hedge against a broad-based short on the semiconductor sector either via an ETF or basket of individual stocks with the most bearish technicals.