Elliot wave theory

Discussion in 'Trading' started by NY_HOOD, Jul 14, 2007.

  1. i just read an interesting article about a few guys that use elliot wave analysis and they called the 2003 bottom months in advance and predicted a very strong bull market. the one guy said the dow shoud hit 19,000 but his partner's say thats too optimistic. the other guys are saying the dow will hit 14,400-14,600 and then there will be a major bear. the opptimistic guy who predicts 19,000 says a major bear will happen after his target is hit. the 14,500 camp do say that if the dow breaks 15,000,its going straight to 19,000,nothing in betweeen. keep in mind,these guys made these calls long ago so its not monday morning quarterbacking.
    one thing that i found interesting is how these guys all say how remarkable it was that the markets did exactly as they predicted by usibg elliot wave.i never use EW but its interesting nonetheless. remember,these calls on the dow were'nt made a few weeks or months ago,they were made a few years ago.