Cup and handle forming on SOXS? semis might be due for a breather

Saw a chart floating around the moomoo community pointing out a cup and handle setup on SOXS, the 3x inverse semi ETF.

If you squint at the daily it actually kinda lines up. Rounded base, sideways grind on the right, looking like a handle. Textbook bullish continuation on SOXS = bearish bet on the chip sector.

ngl semis have been ripping for months and every time it feels like the top, it just keeps grinding higher. but charts like this are why people start sniffing around hedges.

Not saying go full short, SOXS is 3x decay city if you hold too long, theta will eat you alive. but a short dated swing if the handle actually breaks out? maybe.

anyone else seeing the same pattern on the chart or am i forcing it? curious how the technical folks read the right side of this thing.

also fwiw the regular SOXX chart looks like the mirror image, which kinda checks out if you believe in patterns at all lol.