WOODSON WAVE REPORT
MARCH 3, 2008
http://www.woodsonwave.com P.O. BOX 510493St. Louis, MO. 63151help@woodsonwave.com   WAVE DEGREECOUNTFROMDIRECTIONTARGETGRAND SUPERCYCLETHREE1784UPYear 2012SUPERCYCLE(V)1932 or 1942UPYear 2012*CYCLEV12/6/1974UPYear 2012PRIMARY510/10/2002UPYear 2012INTERMEDIATE (1) 10/10/2002UP13,142 - 13,742minor110/10/2002UPComplete @ 9043 on 12/2/02minor212/2/2002DOWNComplete @ 7416 on 3/12/03minor33/12/2003UPComplete @ 10,753 on 2/19/04minor42/19/2004DOWNComplete @ 10,156 on 10/13/05minor510/13/2005UpComplete @ 14,198 on 10/11/07INTERMEDIATE (2) 10/11/2007DOWN.382 = 11,524/ .618 = 9872* "It should terminate about the year 2012" R. N. Elliott, Educational Bulletin O, Oct. 26, 1942* "Not expected to terminate until about 2012"R.N. Elliott, Interpretive Letter No. 17, Aug. 25, 1941Primary degree wave 2 down (1987 - 1990) running flat correction.Primary degree wave 3 up (1990 - 1999)   Primary degree wave 4 down (8/24/99 - 10/10/02)        BEAR COUNT BACK IN PLAY 

While today’s (3/3/08) price action failed to violate our short term make or break price of 12,156 in the Dow (see email alert 2/29/08), the wave structure from the 2/27 high suggests that this market has further to go to the downside. What we now see in the wave count is an extended third wave from the all time high registered on 10/11/08. Within that third wave, waves one through four appear complete at the fourth wave throw-over high registered on 2/27/08. The fifth and final wave of this third wave decline has just begun.

The converging lines between from waves a through d depict the contracting triangle which is the fourth wave. Wave five to new lows is in force. The first confirmation that the wave count illustrated above is correct will be a move below the third wave low of 11,635. This wave count suggests that the correction of the five-year advance from 2002 – 2007 is not complete at the 11,635 low and is still in force. Our ultimate price targets for this correction remain as stated in the wave status chart on page one. A Fibonacci .382 retracement gives us a target price of 11,524 while a Fibonacci .618 move suggests a decline to 9872. WWR resumes a short position for the long, intermediate and short-term outlook for the Dow, S&P, and NASDAQ. We will discuss the wave count in more detail in the March monthly newsletter.

   POSITIONS FOR RATING SERVICES  The “positions for rating services” below are assumed positions taken for rating services such as Timer Digest to rate our newsletter and rank us against other market timing newsletters. While the Elliott wave patterns and Fibonacci ratios have implications regarding the overall direction and turning points in the markets, a reader is not justified

in inferring that any trading advice is given. Woodson Wave Report, LLC does not offer specific trading recommendations.

Long-term counts are found on weekly and/or monthly charts and generally cover a time period of years to decades.

Intermediate-term counts are found on daily and/or weekly charts and generally cover a time period of weeks to years.

Short-term counts are found on daily and/or hourly charts and generally cover a time period of days to hours.

  

Dow:

Long term: Move to a short position.Intermediate term: Move to a short position.

Short term: Move to a short position.

 

NASDAQ:

Long term: Move to a short position.Intermediate term. Move to a short position.Short term: Move to a short position. S&P 500: Long term: Move to a short position.Intermediate term: Move to a short position.Short term: Move to a short position. Bonds: Remain short.  Gold: Remain long. Thank you for subscribing to The Woodson Wave Report. Dale Woodson, editor. 

Subscription to Woodson Wave Report:

$233 Annual subscription includes: one newsletter per month plus all special interim reports issued between monthly newsletters as market conditions warrant.

Disclaimer: The Woodson Wave Report combines Elliott Wave analysis and Fibonacci ratios to identify turning point targets in the Dow, NASDAQ, S&P 500 cash, bond and gold markets with respect to both price and time. The monthly newsletter is generally released on the first Friday of the month and special interim reports are issued as market conditions warrant and as targets are achieved. The information contained in the report is prepared solely for informational purposes and should not be taken as an offer to buy or sell any investment vehicle. Past performance is no guarantee of future results. Woodson Wave Report is waived of any liabilities.

The move up to 12,768 on 2/1/08 breaks above our make or break target of 12,724 confirming our wave count. The anticipated “retest” (see Jan 30 issue) of the low is now in force. The new target (based on the high of 12,768) for the retest is 12,068. This represents a Fibonacci .618 retracement of the rise. A Fibonacci .382 retracement gave us a target price of 12,336 (already surpassed). Worth noting, a Fibonacci .500 retracement gives us a target price of 12,202. Today’s close is 12,200. The “retest” is complete or nearly so. Again, any move below 11,635 negates our count. Details to follow in the February monthly newsletter due to be released next week (week of Feb 11). Check out more HERE Disclaimer: Woodson Wave Report LLC combines Elliott Wave analysis and Fibonacci ratios to identify turning point targets in the Dow, NASDAQ, S&P 500 cash, bond and gold markets with respect to both price and time. The monthly newsletter is generally released on the first Friday of the month and special interim reports are issued as market conditions warrant and as targets are achieved. The information contained in the report is prepared solely for informational purposes and should not be taken as an offer to buy or sell any investment vehicle. Past performance is no guarantee of future results. Woodson Wave Report is waived of any liabilities. http://www.woodsonwave.comP.O. BOX 510493St. Louis, MO. 63151help@woodsonwave.com