I've really tried to be a gentleman about this, but you are without a doubt, the most IGNORANT poster to ever post on ET. Try reading Page #117 of Jack Schwager's "Market Wizards" in which Paul is interviewed by Schwager. I believe that Paul talks about his use of Elliott Wave on Page #130 in which he attributes "a lot of his success to the Elliott Wave approach" when responding to Schwager's question about, "What do you mean by opportunist?" Most traders have read Schwager's most popular interviews of successful traders. In fact, his book has been out since 1989. But for some reason, this book and PTJ interview seems to have escaped you. As a result, most here would undoubtedly seriously question your background, let alone your intelligence. Attacking the track record of PTJ, let alone his well-documented use of Elliott Wave is analogous to running around and shouting to anyone that will listen, that the Earth is "flat". Congratulations on providing us with a good laugh. Have a nice weekend, Sir!
I was also concerned and quite displaced by the divergence shown in the attached chart. It appears to have resolved itself, or either my data is inaccurate.
If waggie's directing his best bs (ie when I was on the floor, when i worked here...etc etc) towards rcanfiel, there's only one thing he can do...rcanfiel, pat yourself on the back for a job well done !
Thanks for a good thread with good analysis, Landis82. EWT's definitely on to something. Objective Elliot Wave blog also has an interesting viewpoint. With long-term direction changing in one to several months there should be some easy profit potential (but my first attempt was early piddling around with DXD and SDS -- dumped 'em this morning).
Quote from Landis82: <i>I've really tried to be a gentleman about this, but you are without a doubt, the most IGNORANT poster to ever post on ET. </i> Funny, I was about to award that honor to you. <i>Attacking the track record of PTJ, let alone his well-documented use of Elliott Wave is analogous to running around and shouting to anyone that will listen, that the Earth is "flat".</i> No one questioned his track record, only the person who talks without evidence, balks when someone actually follows their suggestion, drops names about "working with the big guy", and tries to weave and bob rather than address the realities. I see nothing but an empty shirt. EW remains garbage, and your thorough analysis is little more than pig manure. Your "only one possible outcome" the other day was enough to paint you as sufficiently clueless to be the successful trader you claim. When it comes to ignorance, I am just a humble duffer standing in the shadow of yourself, His Holiness, the Eminence of Cluelessness and the High Priest from the Land of Foolhardiness...
You questioned whether or not Paul Tudor Jones used Elliott Wave in his approach to trading the markets. I offered Page #130 of his interview by Jack Schwager in his book, "Market Wizards". Asked and answered. And once again it made you look incredibly ignorant. And once again you find yourself sitting in the corner and crying out for more attention, like a 4-year old who had his candy bar taken away from him. Congratulations. You are now on ignore. Thanks for playing.
Friday's sell-off into the close of trading was the "a" wave down of Wave 4. The subsequent rally this morning to 1555.90 SPX was a "b" wave and we are now in "c" of Wave 4. After this pullback, expect another push back up in the Sept. S&P Futures contract beyond the 1563.50 area towards 1575 to complete the entire rally sequence. In the meantime, the pullback should not drop any further than 1553.00 on the ES.
"Asked and answered." trying to sound like an attorney as well as a trader now? the best you can do is generate a stream of unrelated insults, since obviously, Elliott Wave remains without value. As well stated by another technical analyst: "The Elliott Wave Principle, as popularly practiced, is not a legitimate theory, but a story, and a compelling one that is eloquently told by Robert Prechter. The account is especially persuasive because EWP has the seemingly remarkable ability to fit any segment of market history down to its most minute fluctuations. I contend this is made possible by the method's loosely defined rules and the ability to postulate a large number of nested waves of varying magnitude. This gives the Elliott analyst the same freedom and flexibility that allowed pre-Copernican astronomers to explain all observed planet movements even though their underlying theory of an Earth-centered universe was wrong."
On a daily chart I count 3 pushes up since March 5th. On a 60 min chart there have been 3 pushes up since june 27th. On a 15 min chart there have been 3 puches up since July 11. Draw your own conclusion. Keith
Yep. On the 60-minute chart, the DJI has traced out a nice A-B-C-D-E Wave (IV) correction with the (E) ending the correction at 13,435.45 on July 11th. Since that low, we have seen a (i), (ii), and (iii). What is less clear is whether or not we have started a (iv) yet in the DJIA. The SPX on the otherhand, cleaerly shows an a-b-c (iv) in progress.