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What is public knowledge is too subjective. This guy has the most probable count

In five months the market should be siginificantly higher. In late 2003, an ABC could have been counted up from the late 2002 lows. But it was the wrong count as the market has already proven.

To an untrained eye much can be an illusion

Jim, As you are aware, software is only as good as the programmer.

Prechter has been a perfect contrarian indicator for more than a decade. How can one be so wrong after being so right? One theory is he actually never really understood EW in the first place and got lucky until the crash of 1987. Another might be that he is purposefully discrediting EW. My...

Just as a rear view mirror is used as a point of reference while driving. One must know what has occurred in the market before one can know what to expect ahead. The future builds upon the past. Your statement is more accurate than you think, but in a different context.

Agree with most of your statement. The market does not unfold in a fibonacci sequence. Some would juggle the numbers around to come up with abstract ratio's and say it does. Historically, fibonacci does not hold up. What does hold up is 5 wave bull markets, and 3 wave bear markets and...

It can be of help to traditional traders IF they rely on the right sources, and not on their own interpetation after reading a few books.

Tao, Agree, good observation! There are many techniques that work. EW is just one of them.

Steve, There is a standardized EW principle, but it's not public information.

TS I had backtested EW using daily data from 1885-1983, after that I used live data, and it's still functioning real time. The advent of the futures market has made it a little more difficult to read short term, but when one stretches out the time horizons it's still perfectly clear.

Very funny!

Should have gone long in July ...

When Elliott Wave patterns always appear in hindsight, it must simply mean one thing: the approach that the majority are using is incorrect. That's how they can consistently miss in real time, what is obviously occurring in real time. Determine the correct approach and EW will work for you...