smh

from the oct 1 low the smh appears to have done a wave 1 and a wave 3 and is in a wave 4. i expect one more new high and then an important top. the smh ,if im correct should correct down in 5 waves to complete its bear market that started in march 00. as always this is just a premise market action dictates everything. as far as levels a true fifth wave would go under the lows set in march. somehow i dont believe we get back there but again the market dictates everything. g

and an extended 5th would go?

from the oct 1 low the smh appears to have done a wave 1 and a wave 3 and is in
a wave 4. i expect one more new high and then an important top. the smh ,if im
correct should correct down in 5 waves to complete its bear market that started in
march 00. as always this is just a premise market action dictates everything.
as far as levels a true fifth wave would go under the lows set in march. somehow i
dont believe we get back there but again the market dictates everything.

g

Gann, is it possible that we completed an ABC correction from 2000 high to 2009 lows, and current rally is wave 1 of new uptrend?

PS I'm not an ewaver but over what period did smh have wave 3 down in your count?

Cheers
CW

from the oct 1 low the smh appears to have done a wave 1 and a wave 3 and is in
a wave 4. i expect one more new high and then an important top. the smh ,if im
correct should correct down in 5 waves to complete its bear market that started in
march 00. as always this is just a premise market action dictates everything.
as far as levels a true fifth wave would go under the lows set in march. somehow i
dont believe we get back there but again the market dictates everything.

g

Gann, is it possible that we completed an ABC correction from 2000 high to 2009 lows, and current rally is wave 1 of new uptrend?

PS I'm not an ewaver but over what period did smh have wave 3 down in your count?

Cheers
CW

woody
the smh and the sox topped in march 00 they are in a abc bear market
the a wave completed in oct 2002 the b wave completed in july 07 prior to the broad market top
a c wave started at that time. it consists of 5 waves when c is over a new bull in semis starts imo
since july 07 we did a wave 1 down into jan 2008 a wave 2 up into may 08 a wave 3 down into mar 09
this rally imho is a wave 4 of the c wave . we need a wave 5 down to complete the c wave and to complete the
bear market which is about 10 years old. so we are going to experience some pain. however unlike some
long term bears like prechter i am very optomistic. why. once the c wave completes a new bull market starts in the
semis . there is no way a new bull starts in the semis and the rest of the market doesnt follow. nav was saying on his
blog that he expects a 9 month cycle low in mar april 2010. oct 25 is 233 days for the start of the rally in march.
so maybe just maybe we correct here for 5 months into the 9 month cycle low. that will be a great time for this
country imho and hope and optimism are going to abound. after a 10 year bear market we should expect at least a
20 year bull market imho so i am short term cautious here expecting a selloff but longer term i could not be more
bullish
cheers
gann

and an extended 5th would go?

perhaps to the 10 to 12 area on the smh. i dont believe that will happen i believe it will
hold the mar lows fwiw
all the best
gann