Semiconductor ETF SMH wave countI know it is crazy and hard, but I will still try.
76.69-78.58 is a stacked resistant zone for a iv wave correction. We may or may not finished iii wave.
Look for a 5 dollar correction soon.
SMH
SELL SEMICONDUCTORS - LONG TLF RATIO 0.59 -target 0.50SHORT SMH
LONG TLF
Target 0,50 - Super retracement expected
Unload Risky assets tactically (1-3 months)
14-15% Potential Gain
Set your own Stop Loss.
SMH - SEMIs above and beyond!Semiconductors have defied the gravity for sure!
They act similar to IBB just before it rolled over.
For now, it is consolidating above a major trendline.
Probably another move up!
SPY - All upside targets have met!SPY, IWM and SMH have met their upside targets. If we close Below the $214.56 with minimum 100 million in Volume, we will see a major correction, till then stay put!
SMH-bearish-Breaks below 32-month rising trendline for lowerSMH extended the decline off the 60.13 peak (June 1, 2015) to breach 32-month rising trendline (from November 2012 low), suggesting scope remains for further downside. The immediate support lies at 50.40 (61.8% of 44.43/60.13 upleg) then 48.11 (76.4% of 44.43/60.13 upleg). Below there would expose the 44.43 key support (October 15, 2014 reaction low). The 53.97/55.03 resistance zone should cap near-term bounces. Only a push back above the 55.03 area would stabilize.
Outlook:
Short term: bearish
Long term: bearish
SMH Day Trade Retest Gap (Brad Reed Apr6,2015)SMH expected to gap to 53.70 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
ARMH- If Looking To Short It? Wait, And Here Is Why.3-29 Here's the drill. Nice clearly defined uptrend
channel that? Put in a Double Top and broke its
uptrend to the downside. Now for shorting? Let it
stage a snapback rally up to new resistance at
either the red line around $52.00 or a Fib retracement
zone (notice where the 61.8% zone is? Its at those levels one wants to see? Stalling, THEN
one can think about short selling it for a trade and not until.
If you are one who shorts stocks THAT is the "What to Watch For" from here.
@AmazingPatterns
Strictly for educational and informational purposes only. Trade at YOUR own risk
This is NOT a recommendation.
