The SOXX (semiconductor sector ETF) short swing trade effectively just hit the top of the second price target zone (T2 zone). Consider booking partial or full profits and/or lowering stops if holding out for any or all of the additional price targets, depending on your trading plan. Previous (April 21st) & updated daily charts below.
SOXX daily April 21st
SOXX daily April 27th
Reaction or no reaction, I still favor all of the additional price targets (T3-T6) being hit in the coming weeks/months although it is worth noting that QQQ & /NQ are currently trading slightly above the minor downtrend lines that were highlighted on the 60-minute time frames yesterday. As such, it would be prudent to wait for the Q’s to fall back below those trendlines as well as Tuesday’s lows before adding to an existing short position on SOXX and/or any of the individual semiconductor stocks.