SMH has been a harbinger for the wider market for some time now since it is the semiconductor ETF and when we say technology we essentially mean two things, hardware technology and software technology. They are like each hand in a body that needs to come together to make noise (clap). The semiconductor essentially tells where the broader tech market or the $SPY is going. On a 15 min – 2 hour chart the count we have below is the primary count. As of right now at 12.30 pm on 1/8/19 we are on wave3 pull back to 61.8 to 70% retrace wave 2 of a larger wave 3, (2)W3.

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