(Chart Video) It Hit My Target Today and the Chart Says It’s Not Done
- Olivia Voz
Man, what a prediction. What a move.
Tuesday I sent you a video on SMH, the semiconductor ETF, and told you two measurements agreed on where it was headed. A bear flag that triggered October 30 and a fib extension, both pointing at the same spot. Today SMH dropped more than 10% and landed right on it. The writing was on the wall.
We traded it in The Close and made some bank overnight. If you took it on your own, write in and tell me what you made.
Now the question is what’s next, because we hit the extensions and the fib has nothing left under it.
The moving averages are cleared. So I pulled up a third tool, and it shows a zone under here with nothing holding it up.
I’m looking for one more big leg. In the video I give you the target, how far it is from here, and why I think it comes tomorrow instead of next week. And if I’m wrong on the timing, you’ll see what the bounce looks like first.
Either we capitulate tomorrow or we bounce first, but we’re getting there no matter what. This is going to be fun.
Rock On,
Voz
P.S. The thing that just drove SMH into my target is the same thing the Qs are sitting on right now. I’ll be trading both in The Close. While our long-term portfolios are taking it on the chin right now, the day trades we put on in the room are paying off in spades.
