tag:blogger.com,1999:blog-4251274909260261631.post941345202432965219..comments2024-03-28T16:49:16.811-04:00Comments on Elliott_Trader: Daily ESElliott_Traderhttp://www.blogger.com/profile/14941335198945083652noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-4251274909260261631.post-5516659850488759752017-05-24T03:24:21.100-04:002017-05-24T03:24:21.100-04:00I think we are in a major monthly bollinger band s...I think we are in a major monthly bollinger band squeeze to the upside that will continue for several months. I have worked with these squeezes and they are very predictable. I stated this back in the end of 2016 when your EW indications were telling you the top was near. So far there is NO reason to believe this will give up anytime soon. <br />I don't look at those that say "the stock market can never go down." That is silly. The bottom line is the EW short term counts have not been helpful. They have actually been fairly unpredictable. You may say it doesn't matter whether it continues to go up, but your readers are going to eventually be disappointed that they missed out on 400 points of SPX upside when you were telling them a top is near at 2100. <br />FOMO (Fear of missing out) can be just as strong emotionally as being caught on the downside. <br />I would quote your references from your past posts, but many have been erased. <br />I think you are smart and I like how you have explained counts with statistics and rules. But, it's not working consistently. I don't understand why you wouldn't be frustrated with your system. BTW - My system failed me in November and many other websites and paid services have been terrible in guiding us through this move, so you are NOT alone.Toddhttps://www.blogger.com/profile/04106518316301480635noreply@blogger.comtag:blogger.com,1999:blog-4251274909260261631.post-44192705529900290012017-05-23T17:31:35.498-04:002017-05-23T17:31:35.498-04:00In case it is not recognized, you are seeing a tru...In case it is not recognized, you are seeing a truly historic give and take between people who think "the stock market can never go down" - as with all the retail participation in the market right now and historic lows in mutual fund cash levels - and those who track the ebbs and flows with wave theory. The former group includes people who just "want to buy Apple forever" driving the NQ to new highs, and who think the Fed is always their back-stop.<br /><br />You can feel it day-by-day and see it in the measurements - deep 62 - 78% retraces in both directions with some index like the DOW not able to make new highs when the S&P500 does, and with other Indexes like the Russell not following either of these two indexes.<br /><br />This is not a frustrating time. It is a time to stay aware of the true nature of the situation as things will likely resolve themselves, and, when they do, it may happen quite quickly.Elliott_Traderhttps://www.blogger.com/profile/14941335198945083652noreply@blogger.comtag:blogger.com,1999:blog-4251274909260261631.post-68393598225899310062017-05-23T09:26:39.149-04:002017-05-23T09:26:39.149-04:00TJ
Do you ever get frustrated with EW?TJ <br />Do you ever get frustrated with EW?Toddhttps://www.blogger.com/profile/04106518316301480635noreply@blogger.comtag:blogger.com,1999:blog-4251274909260261631.post-64404462409486045362017-05-20T18:26:27.352-04:002017-05-20T18:26:27.352-04:00Like most divergences, they work 'some' of...Like most divergences, they work 'some' of the time, but not all of the time or even 'most' of the time.Elliott_Traderhttps://www.blogger.com/profile/14941335198945083652noreply@blogger.comtag:blogger.com,1999:blog-4251274909260261631.post-67120966576640386442017-05-20T13:10:59.190-04:002017-05-20T13:10:59.190-04:00There is a "very small probability" of M...There is a "very small probability" of Minor wave 3 continuing in the indexes that made new highs (the Dow did not). In the S&P500, it would have to be forming a diagonal vth wave of 3. But, at the present time two factors argue against it. First, such a diagonal would not be adhering to it's potential trend lines well, and 2) the recent down candle in one of the largest - if not the largest - down candles on this daily chart. This would tend to indicate that correction is indeed underway.Elliott_Traderhttps://www.blogger.com/profile/14941335198945083652noreply@blogger.comtag:blogger.com,1999:blog-4251274909260261631.post-30479035121046485802017-05-20T13:02:04.344-04:002017-05-20T13:02:04.344-04:00You mentioned If the march high capped minor wave ...You mentioned If the march high capped minor wave 3, would the If mean minor wave 3 could potentially be continuing or would have capped at another time. Thanks. Tlshttps://www.blogger.com/profile/14202198298572247559noreply@blogger.comtag:blogger.com,1999:blog-4251274909260261631.post-9389431715133080882017-05-20T06:40:20.220-04:002017-05-20T06:40:20.220-04:00Welcome, but no. Not a wave 2, lower. The DJIA did...Welcome, but no. Not a wave 2, lower. The DJIA did not make a new higher high required to call the up wave a 1 wave.Elliott_Traderhttps://www.blogger.com/profile/14941335198945083652noreply@blogger.comtag:blogger.com,1999:blog-4251274909260261631.post-57210929773951181432017-05-20T06:21:04.930-04:002017-05-20T06:21:04.930-04:00Thanks Joe. From the April 22 weekend update are b...Thanks Joe. From the April 22 weekend update are both scenarios still possible and we could still be in a 2 or 4 wave? Thanks Tlshttps://www.blogger.com/profile/14202198298572247559noreply@blogger.com