Short

SMCI: Reevaluating

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

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 Update

PT 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 465

Note

I will be moving future posts to my Patreon page patreon.com/FiboTrader1

Best 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

FiboTrader1

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