AMD, BABA update 12/20

AMD: We surely missed on our earlier forecast of 12/5 and thus had to adjust the count to a much more bullish one. Anticipate, monitor, adjust. That’s how it goes. So here’s what we see is developing now. Minor 3 of intermediate iii should target $13-$14. Then minor 4 back to $10.50ish before minor 5 of intermediate iii takes price to new highs.



BABA: Hanging on life support here as it broke below the green dotted up trend line and still has not been able to break above the red solid descending trendline. Although there is positive divergence on the TIs we need to see price break first back above $91 and then $94 to know the trend has changed from down to up. If BABA can’t do that then the whole advance was one large b-wave and price will drop below $60 eventually.