SOXX (semiconductor ETF) offers an objective short entry on this trendline break along with today’s break of yesterday’s lows on QQQ & SPY.

SOXX 120-min May 7th

SOXX 120-min May 7th

The price targets for this trade are T1 at 196.79 & T2 at 182.70 with the potential for additional targets to be added, depending on how the charts develop going forward. The maximum suggested stop is any move above 215.61. The suggested beta-adjusted position size for this trade is 1.0 or 0.33 if using SOXS (3x short semiconductor ETF) as your proxy for shorting the semiconductor sector. The RSOTC Position-Size Calculator can be accessed by clicking on the calculator icon at the right-end of the menu at the top of the site.