If my call for a 3.2% drop in QQQ from current levels (down to 149.21) pans out, this is my expectation for SOXX, a drop of roughly 6% from current levels. Next objective short entry on a break of the minor (white) uptrend line, then the 173.55ish horizontal support level. Also note that should SOXX push higher in the near-term, the indicators are lagging price so much that any additional new highs within the next week or so will almost certainly keep the negative divergences intact. Unofficial trade idea at this time. 60-minute chart:
SOXX 60-min Nov 17th