Back down to test the 0.38 fib at at $770 today and has since regained back to $793, this was quite a large flush at the opening but the 0.38 Fib has been a formidable support line since the middle of April.
Losing this level and Wave C is likely to complete at the 0.5 Fib at $629, where we can see that the 200 Day MA moving up to this level.
Wave 5 is still set at $1405 if $SMCI decides to melt up.
Joshua Emerick
2024-07-01 14:44:22 +0000 UTC