3 waves up in SMH. If the next pullback holds $545, then it could be counted as a 1-2, i-ii setup. This would be bullish. On the other hand, below $545 and we are likely going down in a C wave toward $430.
With oil and the Dollar acting as tailwinds for the bullish green count, we need bonds to hold support. If this breaks, it will not be good.
