I'm going through my previous posts and reevaluating my wave counts now that SPY is showing to be out of an ABC correction. I am changing my thesis on SMCI to have nearly completed Wave 4 up and we can expect a final Wave 5 down.
Wave 5 PT 461-380
Wave 5 PT 461-380
Note
If we completed MINOR wave 3, look for a move down to 601-604 for 0.382 retracement of MINOR wave 3, then a move to 663-676 for MINOR wave 5 before going short. A move below 593 would indicate larger wave 5 down has begun.Note
Wave 5 UpdatePT 478
I believe Wave 5 up in the SPY may bring us to gap fill of 564 which would translate to a larger wave up for SMCI
Note
SMCI shows weekly target of 465Note
I will be moving future posts to my Patreon page patreon.com/FiboTrader1Best of luck the rest of the week!
We are heading down within the next 3 trading days
Note
SMCI is going into Major wave 4. Target - 640
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.