Friday morning Aug 19 session begins shortly ................ Thread title yours truly still 100% in bear rally call. read these first ................. no harm no foul, just read them ............ others are coming around to my way of thinking ............. https://www.marketwatch.com/story/h...s-been-textbook-11660910794?mod=mw_latestnews https://www.marketwatch.com/story/l...r-respiratory-illnesses-11660833255?&mod=bnbh https://www.marketwatch.com/story/t...-dead-ahead-11660820188?mod=mw_more_headlines
Thanks. Acceptable wave count. However keep in mind that your count is a is suggesting a new bull market form June 16 as shown by your motive wave 5-wave structure. That is exactly in line with the way ET old timers see it and they do NOT use elliottwave. THEY (ET) are always wrong at major turns. Is this time an exception? Can there be an exception? Who knows but from an odds point of view, betting with ET is a totally chronic losing proposition. Re-do you wave count to take into account the drop from Jan 4. See if you get 5 waves down. Then, if you find an A-B-C upward correction that represents the entire alleged bear rally, this would prove ET's expectation of new bull WRONG. Why? Becasue if the upmove is an A-B-C, then the WAVE is telling you that the dominant trend is down. Give it a shot. Week end is coming up so plenty of time to review and re-think. I will be doing the same thing. The chart I provided before is my way of thinking and thus far, is unchanged Busy rest of morning, will revisit later
One other thing I am going to be looking into this week end is the internal structure of the small wave that you have marked as "1" ...... why is this important? Because waves are fractals, so if you only view this "1" on the daily timeframe you might not see the nitty gritty. So therefore drop down to 60-min. and examine the bone structure of this wave "1" If it looks like a 3-wave move that will blow your motive wave sky high because a 3-wave impulse can only occur in an ending diagonal traiangle or C-wave etc., pursue this line of thinking. I don't believe that anybody on the entire planet of elliotticians has the answer definitively. Worth looking into
You should be more respectful of Americans. I'll tell you why. Unlike YOU, a Bloomberg worshipper who lets them do Your talking in markets, Americans are a take charge kind of people, they set the trend. another thing: guns and gun laws are soooo easy in Australia, yet they can't shoot to save their lives. And they sure as heck cannot shoot with verve and panache like Americans. I'm hep to Brits and Aussies sneaking into American territory and taking potshots in covert hostility mode agt my gullible brothers and sisters, but I have been where the Sun don't shine and know better. You attack this American, you pay the price
Elliott had guidelines, not rules. Others that followed (like Prechter) made them iron-clad rules that cannot be bent. Except price for some silly reason doesn't know they are rules.
True. But not me. They are guidelines and will remain so. I don't follow those rules. (1) Wave 4 cannot enter the price territory of Wave 1. (2) Complex corrective pattern handling with X & Y & W waves. total crock. I ignore these and found my own way. You forgot the most important one, the one biggest violation: to call them Elliott Waves It disgusts me. These waves belong to the Universe. I look at them that way and call them Universal waves. And the benefit of such etiquette for me? The waves call out to me, whisper my name and say, "come on over" then the peaceful melody of the ocean waves and breeze soothe me. They are good to me.
Everywhere we go we are loved and beautiful things happen to us for the most part as long as we stay out of Politics ....................
QQQ vs Champ Who be Champ? Why of course he is my brother. His name is DXY. He alone has financed all my shenanigans worldwide with aplomb. But now the wind is in his back and he nailed QQQ to the cross in November at precisely 423.6% For those who don't know what 423.6% is ............ 161.8% x 1.618 = 261.8% 261.8% x 1.618 = 423.6% Markets turn for yours truly at 423.6% like there's no tomorrow. Behold QQQ divided by DXY
It is too bad margin has me on /ignore, because he will fail to see the sweet ironic humor I have posted for him here, coming from a fellow American. I am just so damned funny at times.
For your next holiday to SE Asia. If you meet a fox who digs you and she is from a village and poor, you can tell by the jewelry will be no more than 50 cents worth on her arm and she won't have more than 25 cents cash in her pocket but the face and heart and breasts will be of another exotic world that you know nothing of. Want to make her century? Want to do something that nobody has ever done before in such a situation? Take her to Siam commercial Bank headquarters and walk her right in to the general manager's office. She will be trembling all the way in as its just waaaay too much for her to deal with given that these are in her estimation the super rich and she is nothing, nothing nothing. She clings to your arm in TERROR and her body is quivering and shaking with fear Then I say to the Manager, ""open a US Dollar Account for this girl in her name entirely with full international priveleges and a debit card too that will work anywhere" When the manager asked her to sign the documents she asked what were they for? That's when she broke down with tears of Joy. US dollar is God in the village. Americans are seen as the owners of USD. From this came the dating magic equation . Beautiful girl + American Man + USD = HEAVEN