The SOXX (semiconductor ETF) Active Short Trade has just hit the first target (164.78) for a gain of 11.8% (or roughly 36% for SOXS which was mentioned as an alternative trading proxy) from the entry on Jan 24th, the very day after SOXX topped & just off the all-time high (so far). T3 remains the final swing target at this time although the odds for a bounce off this level are elevated at this time. Original & updated daily charts below.

Longer-term swing & trend traders shouldn’t be overly concerned with any potential counter-trend bounces as the chart still indicate a move down to the T2 & T3 targets is likely in the coming weeks or months while active traders might opt to book partial or full profits here with the intention of re-entering short on a bounce at the next objective entry.