The recent theme of stop-raids continues as the SOXX (Semiconductor Sector ETF) short trade briefly popped above 174.90 today to trigger the suggested stop, immediately falling back below that level & trading below so far since then. We’ve kept the losses on the recently stopped trades relatively small due to the relatively small price targets but this has resulted in an unusually low success rate on the official trades added in the past few weeks.

SOXX 60-min Feb 1st

SOXX 60-min Feb 1st

I have started to review the charts of all 30 stocks within SOXX & will continue to analyze the charts to determine whether or not to add SOXX back as another official short swing trade, which I am leaning towards at this time. However, with the weekend coming up & the QQQ short trade added back today (which gives us a large exposure to the tech sector) I might hold off until next week before deciding if, when & where to re-short the semis.

SOXX 60-min 2 Feb 1st

SOXX 60-min 2 Feb 1st

As of now, I am leaning towards the entry to be triggered on a break below this minor uptrend line, which makes up a smaller wedge within the larger rising wedge pattern on this 60-minute chart. I’ve added what will likely be the price targets on the next trade, should SOXX be added back as another official trade soon. I wanted to pass along this chart with these new potential targets for those still short the semis. I will also keep this post restricted to subscribers for now as it contains the new price targets & possible entry criterion for the next trade.

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