As predicted in Monday’s video, SOXX has now made an impulsive break below the 60-minute bearish rising wedge breakdown which should put pressure on the rest of the technology sector as well as the Nasdaq 100 & QQQ. Should SOXX experience a snap-back rally today, the next objective short entry would be a backtest of the wedge and/or the 179.50 area (unofficial trade for now although SOXX might be added as an official trade if/when I can also make a bearish case on SPY). 60-minute chart shown here but remember that SOXX also has negative divergence on the more significant daily time frame as well.
SOXX 60-min Nov 29th