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[gannman]

looking at the very lt charts of the dow i would say that wave 3 of the supercycle ended on 07 for the dow. we did a wave 4 of the supercycle into mar 09 dropping from 14200 to 6500 a loss of over 50 % . that says to me that this leg since 09 has been wave 5 of the supercycle. at the end of wave 5 we will enter a huge bear market . the real question is where are we in this wave 5 . i dont know u could count it many different ways here. do we have much further to go on the upside. hmm i dont know . what i do see is groups like the oils banks and semis look to me like they have either topped or will top soon. that strikes a cautionary note i would say. just some thoughts i dont know whats going to happen but i do see some groups that imo have seen their highs fwiw