Support Levels, page-18

It would appear that my target low of $2.20 could hold & that tomorrow should bring confirmation.

At least the market bounced from the technical support where the C wave was 1.618 times the length of the A wave.

Based on $2.20 being the low, the next significant upward move should be either $1.44 (one cent more than the move from $1.56 to $2.99) or $2.31 (1.618 times the $1.43 move). This should then mean we are looking for potential 3rd of the 3rd of the 3rd wave move to take SMN to $3.64 or $4.51.

The reason $1.44 should be the minimum length of the 3/3/3rd wave is that the 3rd wave is never the shortest of the 1st, 3rd & 5th impulse waves. If it was shorter than the first then it would be known that the 5th would be shorter than the 3rd. This situation never eventuates, consequently the 3rd must be longer than the 1st.

I am still looking for the complete 5 wave move (5th of the 5th of the 5th) to conclude in the vicinity of $5.15. Look for the 5th wave to be 38.2% of the entire 5 wave move.

This should be then followed by a period of consolidation, possibly while earnings are ramping up & when dividends are on the horizon the next series of 5 upward waves should commence & take the price to approximately $12 or more.

I hope my crystal ball does not have any cracks in it.