SOXX (semiconductor sector ETF) offers an objective long entry here off the 331 support with stops somewhat below with a minimum swing target zone (based on this daily chart) of 337.40-388.20.
SOXX daily July 6th
I’ve also listed some price targets on the 60-minute chart below with a minimum/initial target just shy of the 378.50 resistance level, about a 10% profit, if hit.
SOXX 60m July 6th
It goes without saying although definitely worth mentioning that the success (or failure) of this SOXX swing trade will largely if not exclusively, depend on whether my near-to-intermediate-term bullish call for the stock market & in particular, the tech-heavy Nasdaq 100, pans out or not. As of now, one hour after the release of the FOMC Minutes, QQQ is starting to crack above the 60-minute downtrend line but certainly not impulsively, at least not as I type.
QQQ 60m 2 July 6th
As such, less aggressive traders might opt to wait & see if this breakout is firmed up on a solid (or two) 60-minute candlestick closes above the downtrend line, even better if QQQ is poised to print a solid daily close (1-2% above) the trendline in the final minutes of trading today. Otherwise, we could be looking at just another test & rejection (or brief whipsaw) above the trendline.