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Elliot Wave Analysis
I am just starting to learn this analysis. It is based on the Dow Theory, and Bob Prechter is one of the main theoreticians.
Some traders use it in daily trades, and it is used in multiple time frames, including the macro picture. It is worth knowing at least something about it.
I just got a subscription to Bob Prechter's "The Elliott Wave Theorist." Without trying to undercut his publication, I will repeat what I have heard him say in the media.
He says that we are nearing the top of this uptrend, but it can go to the 50% fib line (which corresponds to my reverse head and shoulders target of 123 on SPY, as it happens). It could reverse about where we are now or go to the higher target. Then it will go down, down down. He is totally bearish on stocks and gold and bullish on the dollar and recommends starting a short position because everyone will be running for the exits, and it will be hard to get your orders in. (That is why I am learning to day trade!)
I would not have given him credence if I hadn't seen and heard him predict the top of the market and the recent rally within days. He also predicted within two weeks the 1987 crash.
http://www.youtube.com/watch?v=SjS60TaD_J8
http://www.youtube.com/watch?v=4SG7XGcL7JE
http://www.youtube.com/watch?v=ZBgnV4orB_U
Check out www.elliottwave.com
Some traders use it in daily trades, and it is used in multiple time frames, including the macro picture. It is worth knowing at least something about it.
I just got a subscription to Bob Prechter's "The Elliott Wave Theorist." Without trying to undercut his publication, I will repeat what I have heard him say in the media.
He says that we are nearing the top of this uptrend, but it can go to the 50% fib line (which corresponds to my reverse head and shoulders target of 123 on SPY, as it happens). It could reverse about where we are now or go to the higher target. Then it will go down, down down. He is totally bearish on stocks and gold and bullish on the dollar and recommends starting a short position because everyone will be running for the exits, and it will be hard to get your orders in. (That is why I am learning to day trade!)
I would not have given him credence if I hadn't seen and heard him predict the top of the market and the recent rally within days. He also predicted within two weeks the 1987 crash.
http://www.youtube.com/watch?v=SjS60TaD_J8
http://www.youtube.com/watch?v=4SG7XGcL7JE
http://www.youtube.com/watch?v=ZBgnV4orB_U
Check out www.elliottwave.com
Tags: analysis, elliott, prechter, technical, video, wave
Views: 8
Replies to This Discussion
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Permalink Reply by Stocks To Buy on -
I have a feeling we will have a steep correction in the first 3 months of 2010
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Permalink Reply by Shadowfall on -
Terry, here are several recent articles of interest concerning Robert Prechter. Thought you'd like to see them.
http://seekingalpha.com/article/155814-robert-prechter-has-gone-bea...
http://bloomberg.com/apps/news?pid=20601072&sid=aox.KsSOudpA
http://www.businessinsider.com/prechter-oil-with-fall-to-10-a-barre...
http://moneynews.newsmax.com/streettalk/prechter_bear_market/2009/0...
http://www.howestreet.com/articles/index.php?article_id=10435
http://reason.com/blog/show/135399.html -
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Permalink Reply by Stocks To Buy on
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I use this on a long term basis.....elliot wave predicted the crash of 2008 before it happened in early 2008
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Top MemberPermalink Reply by Terry H on -
November interview with Bob Prechter.
http://finance.yahoo.com/tech-ticker/article/367008/Bob-Prechter:-B... -
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Top MemberPermalink Reply by Terry H on -
See if you can get this free lesson on Elliott Waves by clicking the link: http://www.elliottwave.com/freeupdates/archives/2010/06/22/Learn-Ba...
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Top MemberPermalink Reply by Terry H on -
Here's a good one from EWI that analyzes the chart the day before the 6/21 crash: http://www.elliottwave.com/freeupdates/archives/2010/06/22/Technica...
No commission for me :) -
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Top MemberPermalink Reply by Terry H on -
Here is a complete tutorial on Elliott Waves:
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Top MemberPermalink Reply by Terry H on -
Here is a link to the free "bible" of Elliott Wave theory.
http://blog.afraidtotrade.com/get-your-free-digital-copy-of-the-ell...
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