SOXX (PHLX SOX Semiconductor Sector ETF) offers an objective, yet somewhat aggressive short entry on this rally into price resistance + the 200-day EMA & will be added as an official short trade around current levels. 60-minute & daily charts below:

The current price targets for this trade are T1 at 164.54 and T2 at 161.95 with the potential for additional targets to be added, depending on how the charts develop going forward. The suggested stop is any move above 174.90 with a suggested beta-adjusted position size of 1.0.

SOXS (3x bearish/short semiconductor ETF) could also be used as a proxy for shorting the PHLX SOX semiconductor index although one would buy, or go long, SOXS while reducing their position size by 1/3rd to account for the 300% leverage.

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