SMH's overall cycle translation is positive/bullish; next rise has good odds to reach ~636 (78.6 fib).

if I hover over the dialogue box next to SMH, there's a note that tells us that the daily cycle might show strength because the synced trough might already be in place.

So this is a very early turn here right now in the SMH to just be monitoring right now. We haven't actually cleared any kind of range highs yet, but uh this is something to certainly be aware of.

Right now, the overall cycle translation here has been positive. What do we mean by that? Well, that means that this is a bullish translation with with a far higher high versus the old high and in all likelihood a far higher low versus that old low.

Okay. So that says once we form that low that next rising phase has good odds of moving at first at least to that 78.6 fib at about 636. Then you have the old highs up here at 67183.

If we hop over to the ASLM MCM you will see on the shortterm time frame this is now slightly bullish as of this morning. So that is something to be aware of. On the intermediate term it is also neutral.

Let's go ahead and hop over to the short term and you can see we are clearly still rangebound. We haven't really moved out of uh any clear either swing highs or swing lows yet.

Our uh our RS has just now turned up on the daily time frame and we have a neutral condition on the slim ribbon with a low that is due 9:15 to run 9:22.

We need to move through that that uh that 78.6 six at at about 587 or so. And then if that can happen, you have the old highs at 600. If you can move through 600, this would really change the overall pattern quite meaningfully because we could be looking at a move like this from cycle low to the high to the low.

You could be looking for a move easily towards the 616 to 637 area uh on the upside.

Once these key areas are moved out on the upside, let's get back to our cursor here, which are of course the 78.6 and the old swing high. Those are our key upside lines in the sand.

On the downside, you have these really now equal lows at 54075.