SMH-4-23-19

SMH - rally in semiconductors started in December 2018 looks complete

I count full five waves up off the December 2018 low. This is exactly how wave ( A ) of ( 5 ) should look like. We have a nice confluence of fibs at 119. Off this box we may start a corrective pullback in wave ( B ) down. It has two potential bottoming zone, a shallow in between 102 and 99.70 and a deep one located in between 95 and 89.40.

SMH - 240 min chart updated on 4/23/2019

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