Elliott Wave Analysis of the VanEck Semiconductors ETF (SMH)

Here’s a breakdown of the Elliott Wave pattern on the VanEck Semiconductors ETF (SMH). If you have stocks, ETFs, indexes, or anything else you want analyzed using Elliott Wave, come visit us at TrendLizard.com and sign up for our professional level service. We will analyze up to three instruments every month for you so you can understand the current outlook and when to enter and exit trades. This stuff works!

[@Mike2real141]

What’s your thoughts now??

[@TrendLizard]

Price action confirmed a larger 4th wave pullback as discussed with a break below 255. Now, there is another setup in place for a potential low. SMH must stay above 210 if a low is in. If it can and moves above 240, it'd look like a good opportunity, at least for one more sharp up leg if not more. I hope this helps. We cover SOXX every day at TrendLizard.com, come visit!