I'm doing Elliott Wave International a solid this morning and advertising their work only because they taught me much of what I know about Elliott Wave. No claims are made for the accuracy of any forecasts. This is for educational purposes only. And it is quite recent.
Since it seemed to be free on YouTube, I thought I would pass it along.
Have an excellent rest of the weekend.
TraderJoe
For many years I have seen so many videos and so many analyzes like this one by Prechter.... the top, the top.... I find it hard to believe, but one day the real wolf will arrive. Will it be this time or later?
ReplyDeleteP.D. He post a video with charts from 2021. Why don't you post a video with data updated to 2023? Two years have passed.
Well, in this video he said, "I could be wrong. There's a chance price could go over the high again. (He) didn't think so because of sentiment, but it is a possibility." So he and I are on the same page. Only I have stated it explicitly as clearly as I can. Confirmation is 'required'. Period.
DeleteTJ
..also, he has a very updated chart of the Russell towards the end of the video. Don't miss it.
DeleteTJ
if i were to take a counter view of Russell..I see a 5 wave after triangle to downside. bulls would argue that could be all c. beard would argue thats 1 of c and now 2.
DeleteAnyway, ET, I forgot to say thank you so much for sharing and for your comments.
DeleteThe bearish symptoms are obvious, but it seems that by "magic" PPT or whoever reverses the trend and stops the bearish sentiment.
@grr ... as far as I can tell from TradingView's future's prices, any proposed triangle in the RTY (Russell futures contact) invalidated, as follows.
Deletehttps://www.tradingview.com/x/TwN9r4zN/
The last peak is just a bit too high. So, be open-minded. It may be a large second wave countable as w-x-y-x-z to (2). It 'may' not be, but it 'can' be counted that way.
TJ
thanks for this - very interesting. Ira would also add that both IWM and DJT rejected so far at their weekly 18ma, unlike other bull markets.
ReplyDeleteWelcome & yes, there are 'some' signs. TJ.
DeleteNot atypical for inter-index divergence at important tops with a lone index going to a new ATH with other indices failing to do so.
ReplyDeleteHere is a Fibonacci count in EuroFX futures (6E) that looks pretty good at this point.
ReplyDeletehttps://www.tradingview.com/x/Z5RSDae5/
The Fibo is c = a, very nearly exactly. (Alt is entire structure is an expanding diagonal).
TJ
TJ, don't you think we are going higher when TNX is going down? It looks like the inflammation is cooling
ReplyDeleteProbably not. When the FED lowers, it will be because we are in recession.
DeleteTJ.
EuroFX, here is the lastest portion of the count on the 30-min (instead of 4-hr) time frame. I would look for 'confirmation' first because if it should break higher by even 5-tics, then the diagonal busts.
ReplyDeletehttps://www.tradingview.com/x/ChXV2Ocn/
TJ
But they are not going to cut the rate so fast, and they print money, you can see in the fed site
ReplyDeleteAnyway, this is not a site for fundamentals, only for wave counting. TJ.
DeleteYes, this is the reason to think NDX is in wave 5, don't you think so?
ReplyDeleteI think this is the right count for the NDX, which my prior work had always allowed for, especially the Principle of Equivalence. As far as the fundamental reason, that's up for grabs: it 'could' just be insane tech managers feverishly buying back their stock to bump-up their year-end bonuses, now that their quiet periods are over. And that is why I do not deal with fundamentals here.
Deletehttps://www.tradingview.com/x/T4lkC1Od/
(P.S. The futures, however, are not over the high, yet - just as fyi).
TJ
EuroFX - 6E 30-min: this is a great example of why confirmation is needed. The potential diagonal busted ever so slightly, but it did. That meant that wave (4) was a triangle, instead, and there is a further wave (5) that we are in now.
ReplyDeletehttps://www.tradingview.com/x/cygalfFc/
TJ
A new post is started for the next day, with a focus on the NDX.
ReplyDeleteTJ