Overview: in the previous update I published on May 27th, I had SOXX close to the completion of wave (III) of c of 3 of (A) of 5.
Update: our proposed structure/path has been followed nicely.
Analysis of the structure: I think we are in wave 4 of (A) of 5 developing as a flat correction. Note that wave (IV) of c of 3 also developed as a flat correction, complicating the analysis of this chart a bit. Based on the fib retracement of wave 3, I see 486.74 or 467.62 as my potential targets for wave 4 bottom.
Analysis of the cycles: we are in the second 40D cycle of the second 80D cycle of the first 20W cycle of a 40W cycle. The upcoming 20W cycle is expected at the end of August. We have not yet seen any FLD breaks to the downside to generate targets.
Update: our proposed structure/path has been followed nicely.
Analysis of the structure: I think we are in wave 4 of (A) of 5 developing as a flat correction. Note that wave (IV) of c of 3 also developed as a flat correction, complicating the analysis of this chart a bit. Based on the fib retracement of wave 3, I see 486.74 or 467.62 as my potential targets for wave 4 bottom.
Analysis of the cycles: we are in the second 40D cycle of the second 80D cycle of the first 20W cycle of a 40W cycle. The upcoming 20W cycle is expected at the end of August. We have not yet seen any FLD breaks to the downside to generate targets.
Nota
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.