tomj2417

SMH - 5th wave Semiconductors

Long
AMEX:SMH   None
I did a chart on this one back in July, 2018 calling for a bottom in wave 4 and a resumption of the uptrend. I was a bit too early on my bottom call but sure enough, it has resumed upwards with the rest of the market since the beginning of the year and did so at almost the exact level of the wave 4 of higher degree. This count suggests that the rally/impulse could be temporarily running out of a steam. Lots of enticing Fibonacci extensions and retracements but as always, time will tell if this count has any merit.
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