SOXX (semiconductor sector ETF) offers an objective short entry on this 60-minute uptrend line breakdown following the most recent divergent high. The three price targets (actual support levels, best to cover slightly above one’s preferred target or targets) are shown on the 60-minute chart below while the odds for my longer-term swing/trend targets (recently shared on the weekly chart) being hit will increase substantially if/when the recent breakout above the downtrend line fails.
SOXX 60m Sept 30th
Suggested stop 239.42 with a suggested beta-adjusted position size of 0.8 or 0.28 if using SOXS (-3x bearish/short semiconductor ETF). Video on the semiconductor sector & top components to follow soon. Alternative entry (or add-on to a full position, if taking a starter/fraction short here) would be on a solid close below the uptrend line on a daily closing basis (4 pm).