To: jmootx who wrote (65526 ) 12/31/2000 2:07:05 PM From: Gary Burton Read Replies (2) | Respond to jmootx--I am also anticipating a stong rally - to at least test 2700 on COMP, and may well be higher--all that is missing in here is that, as I said before, the SOX has to print a new low sub 517 first to complete its downtrend. The SOX is the key tell for the Naz--right now at 577 it is in the process of rolling over again into (d)down of a triangle, leading very shortly to the last little leg down to about 485ish, as I see it. At that point, I think everything will be alligned to have a sharp and more enduring Rally in the semis and semiequips. That will power the NDX etc.....Also, a number of the individual tech stocks look to be close to completing their ultimate wave count Lows, so that when that occurs in enough of them, there may well be an explosive move up.....For eg. MSFT at 35-38 could well be its final Low, LSI anywhere between 14.5-16.25 same thing, INTC mid-higher 20's etc etc. My point here is that many of the semi stocks are very late in their ultimate declines from the top and that once they turn, the Naz may well reverse its spots As the SOX goes, so goes the NDX by and large.
