SMH has completed a pullback and started a rally to a new higher high of 2019
In my previous post on 3/20/2019 I predicted a corrective pullback in wave ( b ) of ( v ) and provided a target green box located in between 103.50 – 101.75.
SMH bottomed at 103.99 on 3/28/19. My expectations are the same. From that bottom we should get another impulsive move up to a new 2019 high in wave ( c ) of ( v ) up. That final wave would complete a larger rally in wave ( A ) of ( 5 ) that started in December 2019. The minimum target for the rally is the red box located in between 112.9 and 115.6. But those are minimal targets. The rally may stretch higher. To nail a reversal we need to get five micro waves higher tagging at least 112.90. I will keep micro counting that rally in my private discord chat to nail the top.