Elliot Wave Calls the Top... Again

[melteye]

Quote from 50 cent:

While a top may very well be in the making, someone who shouts "Bear" week after week regardless of what the market is doing, is not someone to pay attention to imho. Eventually there will be a big or small bear, except when your timing is off by months... you'd better keep quiet.

Maybe they want your shares The market is going down, everyone sell!

 

[TheCaracal]

two words: Election Cycle.

Markets haven't been down in 43 years during the two years that lead up to it.

It is no coincidence that the SP has rallied straight up since 3/20 til now, with nary a pullback.

3/20/00 was 3 years since SP top close 1527.

Bush ended that with Iraq (3/20/03) ....we haven't looked back since..

Think about it...a nearly 300 point rally in SP, without ANY major correction more than 5%?

Hitting bids on downticks going by the wayside?

The electoral agenda is quite clear, stock market up=re-election.

Period.

See May 1970-Dec 1972..Nifty 50 era..we are in it again. (Substitute Vietnam for Iraq, OPEC cuts, Stagflation..etc)


Only the names have changed....

SP 1200 by 12/04...600 by mid 07...I am sticking with this til it cost's me money.

Best,
David

 

[chasinfla]

Quote from TheCaracal:

Hitting bids on downticks going by the wayside?

I'm not much of a conspiracy theorist but that's an interesting point.

However, bullets didn't keep the market from bottoming last fall; in fact, they didn't keep the market from making all time highs in 2000.

 

[maxpi]

Quote from Cheese:

"I can't really trade it" .. it is "speaking in generalities, maybes and could be with no time frame".

You can't really back test it either. EW interpretation seems to involve a lot of hind-sight reajustments of the wave count, etc.