I agree. Fibs and EW only show anything of value after the fact. For example, it is not known which fib level is important until after it happens.
32 year cycle, down move expected in July
- Thread starter Option_Trader32
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here along term dow chart
went from 7200 to 10700 and then broke out and tested 10.700 thats 3500 points a measured move would be 14.200
don't know if we'll get there
heres the dow chart for all years
if the elliot wave does 3 waves then we should be in the long term 3rd wave one of the shortest waves
If any one here discounts Fibs and Elliot Wave, do not fool yourself, they have an inmense effect on the markets. You know why? Because enough people trading/investing out there believe in them that is why. It doesn't matter if they are "real" or not, the fact of the matter is ALOT of people believe in them and that gives them POWER and INFLUENCE.
If you noticed my first post I see both sides(trying to save myself the need for further clarification). Howver I use Elliot Wave and Fibs and believe in them ALOT more than I disbelieve, that is for sure. No indicator is 100%, it's all in the interpretation.
For example a few weeks ago, millions(if not billions) of dollars where shorted across all markets when the DOW and S&P reached all-time highs(above 13,500 and 1500 respectively). Thousands of traders where betting on an immediate correction and went short. IT WAS A MISTAKE. I knew that they where about to get handed their shorts! How? Elliot Wave.
I was right. The next day the DOW goes up 193 points and the shorts where scrambling to cover. Some actually doubled their positions(not good at all). The markets went on a 3 day rally(after this rally was the time t go short).
I believe that the institutional banks and fat cat traders noticed this and the next day started buying right off the bat to entice the short squeeze.
I also beleive that the Billionaire Boys Club and Insitutional Banks use Fibs and Elliot Wave on complex autotrading desks using advanced mathematical formulas to "direct the market"
So whether you think they are valuable or not, know one thing they do have an impact. I will leave it at that! I enjoy this website and have learned alot from many here. Looking forward to a profitable year(hopefully for us all). As voltility starts to ignite, things will get interesting. we are getting into "uncharted waters". I say 14,400 by next spring(easy, after several corrections) and then we shall see where China is at after Summer Olympics.
Regardless of if we hit 14,400 or maybe 19,000, when the markets corrects, I would suggesst being on the short side of the trading!
Here is to great trading on the verge of Voltility! Nate
If you noticed my first post I see both sides(trying to save myself the need for further clarification). Howver I use Elliot Wave and Fibs and believe in them ALOT more than I disbelieve, that is for sure. No indicator is 100%, it's all in the interpretation.
For example a few weeks ago, millions(if not billions) of dollars where shorted across all markets when the DOW and S&P reached all-time highs(above 13,500 and 1500 respectively). Thousands of traders where betting on an immediate correction and went short. IT WAS A MISTAKE. I knew that they where about to get handed their shorts! How? Elliot Wave.
I was right. The next day the DOW goes up 193 points and the shorts where scrambling to cover. Some actually doubled their positions(not good at all). The markets went on a 3 day rally(after this rally was the time t go short).
I believe that the institutional banks and fat cat traders noticed this and the next day started buying right off the bat to entice the short squeeze.
I also beleive that the Billionaire Boys Club and Insitutional Banks use Fibs and Elliot Wave on complex autotrading desks using advanced mathematical formulas to "direct the market"
So whether you think they are valuable or not, know one thing they do have an impact. I will leave it at that! I enjoy this website and have learned alot from many here. Looking forward to a profitable year(hopefully for us all). As voltility starts to ignite, things will get interesting. we are getting into "uncharted waters". I say 14,400 by next spring(easy, after several corrections) and then we shall see where China is at after Summer Olympics.
Regardless of if we hit 14,400 or maybe 19,000, when the markets corrects, I would suggesst being on the short side of the trading!
Here is to great trading on the verge of Voltility! Nate
Could you please give the source of this info, thanks. A big problem with EW is there is no consenses on interpetation. Different EWavers have different wave counts and few agree on an absolute count.
Here's a weekly chart of 1975, 1943 and 1911 that shows the cycle action to take place in 2007. The market is nearing the 2 high anytime now, and will move to the 3 low which will be in the September to November time period, unless there is an unusual sell off where price may drop for an extended time past November.
Quote from Option_Trader32:
Here's a weekly chart of 1975, 1943 and 1911 that shows the cycle action to take place in 2007. The market is nearing the 2 high anytime now, and will move to the 3 low which will be in the September to November time period, unless there is an unusual sell off where price may drop for an extended time past November.
Get some better charts dude, surely you can afford $100.00 a month.