@pbwilli37 asked for my thoughts on the semiconductor sector & I figured that the reply warrants a home page post as a new trade idea.
Following the typical reaction (reversal & substantial rally) off the perfect kiss of my 6th & final long-term swing target on SOXX (semiconductor sector ETF) back at the April 7th lows, SOXX now offers an objective short entry here on this first backtest of the 200-day MA’s from below and/or up to the downtrend line off the highs. Weekly & daily charts below with additional (sub) swing/trend targets to follow.
SOXX weekly May 12th
SOXX weekly 2 May 12th
SOXX daily May 12th