Semiconductors are showing significant weakness right now. After yesterday's sell-off, they're still under pressure in pre-market trading today, with funds continuing to flow into M7 for risk aversion. SOXL is currently near the lower edge of its range and is in a descending channel within the range. Pre-market price has already reached the previous low of around 150. The last four times it dipped to 150, it was strongly recovered. If funds continue to flow out of semiconductors into M7 for risk aversion after today's market opens, like yesterday, SOXL might not be able to hold this level and could dip into the yellow zone shown in the chart. #SOXL #Storage #Semiconductors