AMD, X update 2/23

AMD: Getting very close to our ideal major 5 target zone. Has now met all requirements for 5 minor waves up off the January intermediate iv low. May subdivide, but that’s a big maybe; we would not like to be long up here with such uncertainty.

amd

Negative divergences now building as well. Don’t bank of 5th waves as they say…

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X: Dropped 10% today, so what’s going on? Well looks like Major 3 peaked 0.11c below our ideal target zone at the (red) intermediate 1.764x i extension; which is a typical 5th wave Fib-extension. With the prior intermediate iii at 1.618x i, a typical 3rd wave, and clean 5 waves up of the intermediate iv low, we thus have two lines of evidence suggesting major 3 topped. Major 4 should now bottom in the $31-34.5 zone and major 5 should then ideally target the high 40s to low 54s

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