An Idea in the Heat of Battle, Made in Taiwan

With Micron leading the semiconductors lower this morning, we are still short INTC inside Market Chess Subscription Services, looking for the semi titan to continue its relative weakness to the sector. 

In addition, Taiwan Semiconductor, another heavyweight in the SMH sector ETF, may be ripe to follow the group down. In addition, the weakness China could help the short thesis here.

On the daily chart, below, note the overall sideways range the stock has toiled in for a while now, on top of yesterday's reversal candlestick (arrows) after a multi-week bounce. A move under $23.83 should get the ball rolling downhill, while a move back over $24.45 likely negates this thesis.