Ewj: elliott wave

I'm on a trial of both EWI and NeoWave. They have interesting opposing opinions:

Elliott Wave International

Bonds - heading down
S&P - ready for ABC correction after wave1 up
Euro - heading down

NeoWave

T Notes - just issued a long signal
Euro - just issued a long signal
S&P - says it has a bit more upside prior to another down move in a contracting triangle

They differ pretty well on their index counts

The only thing they agree on is gold should go down. They have different counts for this theory though. I haven't seen too many 1,2,3,4, 5s on Neely's charts. Lots of ABCDEFGs though.

So far, I like Glen Neely's style a bit better. He has more firm convictions and says I'm wrong if it trades here. EWI seems more wishy washy and says, 'this count is invalid here' despite 'here' being WAY to far away for even a position trader to place a stop.

Have a great weekend.
 
Quote from ericmoles:

I'm on a trial of both EWI and NeoWave. They have interesting opposing opinions:

Elliott Wave International

Bonds - heading down
S&P - ready for ABC correction after wave1 up
Euro - heading down

NeoWave

T Notes - just issued a long signal
Euro - just issued a long signal
S&P - says it has a bit more upside prior to another down move in a contracting triangle

They differ pretty well on their index counts

The only thing they agree on is gold should go down. They have different counts for this theory though. I haven't seen too many 1,2,3,4, 5s on Neely's charts. Lots of ABCDEFGs though.

So far, I like Glen Neely's style a bit better. He has more firm convictions and says I'm wrong if it trades here. EWI seems more wishy washy and says, 'this count is invalid here' despite 'here' being WAY to far away for even a position trader to place a stop.

Have a great weekend.
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Nice to get this info, Thanks eric.
 
Quote from ericmoles:

So far, I like Glen Neely's style a bit better. He has more firm convictions and says I'm wrong if it trades here. EWI seems more wishy washy and says, 'this count is invalid here' despite 'here' being WAY to far away for even a position trader to place a stop.

Have a great weekend.
More...

Thanks Eric!

I subscribed to EWT for about a month and was primarily interested in the Energy Market counts. This was when crude was trading between $100 - $120 on the WAY DOWN last year.

The oil analyst was a nice guy ( in his weekly video round-up ) , but he kept looking for a "bounce" in all three energy markets on the way down and never got any kind of "rally" whatsoever.

What added even more insult to injury was that by the time he got "triggered" out of his Primary Wave Count, you were unable to capitalize off the move because it was already 2/3 rds of the way done.

Kind of like what Eric said above, the alternate count was too far away . . . and once it became the primary count, the move was basically OVER!

:D
 
Thank eric... :)

Neely does like his alphabet labeling :D

If only them EWI boys would use the ALT rules like Bolton & Frost intended.... :eek:
 
At this point a 1-2-3-4-5-count is the right look :) .
An a-b-c-count is not :confused: .
Below 7550, 791, 1488 may be a Bear Trap :eek: .
Recount if the Big "M" pattern is confirmed :mad: .
 

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Quote from Mup
There's a lot of fib time pressure today....(26th March)
.....If we go below that 50% the odds shift more and more into a completed 5th of a Leading Diag count into that 26th of March time pressure....

http://www.elitetrader.com/vb/attachment.php?s=&postid=2364223
Daily SPX
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Time leads again....
As soon as that 50% got busted the odds switched from the ED to the LD.....

Seems Mr Jiler's patterns was far off... :eek:
http://www.elitetrader.com/vb/attachment.php?s=&postid=2365922

Its been a busy weekend & I'm out of the office this afternoon for a pesky meeting......
 
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