The PHLX Semiconductor (SOX) Index met our 615.00 downside target this morning, first mentioned in yesterday’s (January 6th) report entitled Deeper Decline Coming? Watch The Semis, to capture an additional 3% decline in one day.

Here is the chart from yesterday’s report.

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PHLX Semiconductor Index daily since August

Here is the current chart updated through this morning.

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SOX Index as of 10:00 am ET today

 

In addition, the S&P 500 (SPX) met our 1965 target the morning, first mentioned in our December 9th report entitled Today’s Reversal Warns Of More Near Term Market Weakness, to capture a 69 point, 4% decline in just about a month.

Here is the chart from our December 9th report.

S&P 500 daily since
S&P 500 daily since August

Here is the current chart updated through this morning.

S&P 500 as of 10:00 am ET today
S&P 500 as of 10:00 am ET today

 

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