{"symbol":"SMH","slug":"smh","name":"Semiconductors ETF","group":"Sector & country ETFs","asof":"2026-11-06","price":463.96,"scale":"log","headline":"primary 4 of cycle V, (C) leg live, minor 5 under way","trend":"up","swing":"down","invalidation":283.07,"call":{"status":"held","previous":"2026-11-05"},"main":{"summary":"primary 4 of cycle V: zigzag from $671.83, (C) live","structure":"I $18.50 (2011-05), II $12.96 (2011-10), III $159.41 (2021-11), IV $83.49 (2022-10); V: 1 $283.07, 2 $170.11, 3 $671.83, 4 live","next":"minute v to $439.69, minor 5 to $436.62, (C) completing primary 4 near $397.54-401.17, then primary 5 above $671.83","window":null,"invalid_if":{"price":283.07,"direction":"below"}},"levels":[{"timeframe":"Monthly","degree":"Cycle","direction":"up","wave":"cycle V of the supercycle advance, up from $83.49 (2022-10), in progress","target":{"low":1843.37,"high":null},"invalidation":83.49,"window":{"from":"2028-12","to":"2039-01","likely_from":"2028-12","likely_to":"2039-01"}},{"timeframe":"Weekly","degree":"Primary","direction":"down","wave":"primary 4 of cycle V, down from $671.83 (2026-06-22)","target":{"low":397.54,"high":338.06},"invalidation":671.83,"window":{"from":"2026-12","to":"2029-04","likely_from":"2027-03","likely_to":"2028-03"}},{"timeframe":"Daily","degree":"Intermediate","direction":"down","wave":"intermediate (C) of primary 4, down from $639.47 (2026-10-06), in progress","target":{"low":401.17,"high":null},"invalidation":639.47,"window":{"from":"2026-11-12","to":"2027-01-25","likely_from":"2026-11-17","likely_to":"2026-12-14"}},{"timeframe":"Hourly","degree":"Minor","direction":"down","wave":"minor 5 of intermediate (C), down from $510.00 (2026-11-04 11:45 ET), in progress","target":{"low":436.62,"high":null},"invalidation":510,"window":{"from":"2026-11-07","to":"2026-12-16","likely_from":"2026-11-11","likely_to":"2026-11-30"}},{"timeframe":"15-minute","degree":"Minute","direction":"down","wave":"minute v of minor 5, down from $476.25 (2026-11-06 09:45 ET), in progress as an ending (contracting) diagonal","target":{"low":439.69,"high":null},"invalidation":476.25,"window":{"from":"2026-11-06","to":"2026-11-07","likely_from":"2026-11-06","likely_to":"2026-11-07"}}],"answer":"Semiconductors ETF (SMH) Elliott Wave count at the Nov 6, 2026 close (price 463.96): the called count is primary 4 of cycle V, (C) leg live, minor 5 under way. It is invalid below 283.07. On the daily chart, intermediate (C) of primary 4, down from $639.47 (2026-10-06), in progress, targeting 401.17 (invalid above 639.47).","markdown":"https://elliottwaveatlas.com/markets/smh.md","history":[{"date":"2026-11-06","price":463.96,"status":"held","headline":"primary 4 of cycle V, (C) leg live, minor 5 under way"},{"date":"2026-11-05","price":447.73,"status":"held","headline":"primary 4 of cycle V, (C) leg live, minor 5 under way"},{"date":"2026-11-04","price":504.27,"status":"held","headline":"primary 4 of cycle V, (C) leg live, minor 4 under way"},{"date":"2026-11-03","price":518.52,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-11-02","price":508.31,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-30","price":516.46,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-29","price":561.67,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-28","price":567.67,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-27","price":557.98,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-26","price":541.62,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-23","price":527.2,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-22","price":523.35,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-21","price":556.7,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-20","price":546.36,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-19","price":548.46,"status":"held","headline":"primary 4 of cycle V, (C) leg live"},{"date":"2026-10-16","price":539.79,"status":"new","headline":"primary 4 of cycle V, (C) leg live"}],"disclaimer":"Educational and informational only. Not investment advice. Elliott Wave counts are probabilistic scenarios and can be wrong."}