smh time to go down

in july 07 the smh started the final leg of its bear market. its looks like wave 4 of this bear leg is just about done wave 5 is coming and i expect it to challenge the 15 level in the smh at least but again that is up to the market bottom line is the smh is heading down shortly to complete its bear started in mar 00 i would think this leg dow will take us about 6 months fwiw g

in july 07 the smh started the final leg of its bear market.
its looks like wave 4 of this bear leg is just about done
wave 5 is coming and i expect it to challenge the 15 level in the smh at least
but again that is up to the market
bottom line is the smh is heading down shortly to complete its bear started in mar 00
i would think this leg dow will take us about 6 months fwiw

g

gann, I love your work and gratitude is there, but SMH will go up into early next year. Please note the SMH tends to top up to 6 months (optimal 3 months) AFTER dow top.

Has the DOW topped? Even that I am not sure of here.

in july 07 the smh started the final leg of its bear market.
its looks like wave 4 of this bear leg is just about done
wave 5 is coming and i expect it to challenge the 15 level in the smh at least
but again that is up to the market
bottom line is the smh is heading down shortly to complete its bear started in mar 00
i would think this leg dow will take us about 6 months fwiw

g

Gann, attached is my simplistic count (on a learning curve) please comment on viability of alternate count and what time period is your wave 3?

Thanks
http://stockcharts.c...811&are=753.png

in july 07 the smh started the final leg of its bear market.
its looks like wave 4 of this bear leg is just about done
wave 5 is coming and i expect it to challenge the 15 level in the smh at least
but again that is up to the market
bottom line is the smh is heading down shortly to complete its bear started in mar 00
i would think this leg dow will take us about 6 months fwiw

g

Gann, attached is my simplistic count (on a learning curve) please comment on viability of alternate count and what time period is your wave 3?

Thanks
http://stockcharts.c...811&are=753.png

Woody, you need 5 waves down for SMH wave 5. You only have 4..............so one more down to the bottom......

in july 07 the smh started the final leg of its bear market.
its looks like wave 4 of this bear leg is just about done
wave 5 is coming and i expect it to challenge the 15 level in the smh at least
but again that is up to the market
bottom line is the smh is heading down shortly to complete its bear started in mar 00
i would think this leg dow will take us about 6 months fwiw

g

Gann, attached is my simplistic count (on a learning curve) please comment on viability of alternate count and what time period is your wave 3?

Thanks
http://stockcharts.c...811&are=753.png

Woody, you need 5 waves down for SMH wave 5. You only have 4..............so one more down to the bottom......

Thanks GS......I kinda thought wave 3 had to be the biggest thats why I labelled chart as shown, so my 1 and 2 are incorrect?

Thanks

CW

in july 07 the smh started the final leg of its bear market.
its looks like wave 4 of this bear leg is just about done
wave 5 is coming and i expect it to challenge the 15 level in the smh at least
but again that is up to the market
bottom line is the smh is heading down shortly to complete its bear started in mar 00
i would think this leg dow will take us about 6 months fwiw

g

Gann, attached is my simplistic count (on a learning curve) please comment on viability of alternate count and what time period is your wave 3?

Thanks
http://stockcharts.c...811&are=753.png

Woody, you need 5 waves down for SMH wave 5. You only have 4..............so one more down to the bottom......

Thanks GS......I kinda thought wave 3 had to be the biggest thats why I labelled chart as shown, so my 1 and 2 are incorrect?

Thanks

CW

You are right 3 must be the longest wave and yes you have 1,2 and 3 labeled correctly. An argument could be made that 4 ended in Jan 03 but it does not affect the count you have as a 5.....except 5 needs a 5 down after the bounce from the '08 dive......


The same argument applies to just about everything but nobody believes it.....!

GS.

GS Thanks for your patience on this........I labelled the long Sym Triangle as a 4 and I can see 5 waves down for the 5 (the 08 dive)so I'm still a bit confused on why we need another 5 down.....guess thats what makes a market. Cheers CW

GS Thanks for your patience on this........I labelled the long Sym Triangle as a 4 and I can see 5 waves down for the 5 (the 08 dive)so I'm still a bit confused on why we need another 5 down.....guess thats what makes a market.

Cheers

CW

Cheers to yo to and THAT IS the big question.......we shall see...... I really don't care as my trading is short term (1 to 3 days per trade), but a roadmap is always great to have.....

GS.

woody i would strongly recommend that u get prechters blue book called elliot wave theory i believe it is the bible for elliot wave more or less. there is something u are missing on elliot i will give you a deltailed explanation but right now i dont have the time by tomorrow or the latest saturday morning i will have an explanation. but i strongly recommend prechters bookl as that will give you the basic structure of all the bull and bear markets the most important thing right here i believe is that there is one more 5 wave move down in the smh to complete a 10 year bear market that fact is i believe very important because after it completes a new bull is going to start in semis any how i will give a more detailed explanation by saturday morning at the latest