AMD Update

With the price action we're seeing today and a request from a follower, I wanted to update y'all on where AMD is in the count. As you can tell we are currently on our iii of 3 of v of ((1)). The strength since the Oct lows of last year are a testament that we are in fact in a iii of 3. We have literally almost doubled since that time. If this thing is to continue hitting standard extensions, then we should continue to rise until we hit the 1.236-1.382 @ $176.33-$193.30 before we get another decent retrace. Remember, these are just standard places for this part of the count to end not a guarantee. We would then most likely trek down towards the 1.0 @ $151.99 before rising again towards the low $200 area. MACD seems to support this count at this time and
I would expect it to make another high during this wave iii of 3.

All that is required for this larger count to be considered complete though, is a high above $164.41. Once this count completes, we will spend a LONG time dropping in a corrective fashion for our wave ((2)) of III. Hopefully this helps clear things up for people. Feel free to ask questions and leave a like if this information is useful to you. Good luck everyone!!

Comment:

AMD has been making moves towards the two fibs I stated were the targets I'm watching. Judging the strength we have been showing I think we will have a higher chance of hitting the 1.382 fib @ $193.30.

Comment:

We smacked into the 1.236 fib and started retracing lower. This looks to me as a wave 4 of some degree. The question is, is this wave iv or a 4 of a lesser degree? If wave iv then we should fall to around the $140 area. If it is a wave 4 of a lesser degree, it shouldn't drop below the 1.0 @ $151.99 before raising again towards the 1.382 @ $193.30.