Philadelphia Semiconductor Index (SOXX)

[Stock]

if you were short semis, you would like an opportunity to go on CNBC and trash the long side, wouldn't you?

the target is either 456 or 420 -- we won't know until it's over.

these chart patterns are not like elliot wave and fib numbers... there is no real "target" -- you are just looking for support in the chart

And support is at 456 and 420, imo

#msg-23965541

this might help

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_char