Steve, unlike Allan, its my alternate for now but I am indeed open to it. The problem I have with it is two-fold:
Firstly it portends a massive move to DOW 9000+ yet the internals have not been supporting such a move. Zeev points this out regularly around here.
Secondly I count 5 waves down on the DOW off Dec 2 and that means its an impulse and is in the direction of the trend. We should only correct that move now. Allan sees it all as a 'B'. Tech on the other hand looks much more bullish to me in the intermediate term.
The pullback should not take long if the large 'C' is in play (if there even is one). But if we get a pullback which goes on for days and days, it is more likely a 'b' wave and not a '2' and means the entire move will be corrective, not impulsive as a 'C' wave is.
I hope that makes sense to you Steve. Thanks for the kind words BTW. Cheers.
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