Possible BIG BEAR Elliot Wave Count...

Scataphagos

Scataphagos

The low in October counts as "5-waves down". That was enough to be the entire bear market....

OR... it could be "Wave 1 of 5" in a BIIIG bear market.

The action from October to recent highs could count as "a-b-c-d-e" to complete Wave 2 of 5 in the big bear.

(I tried to annotate this with Stock Charts, but it kept closing me out before I was finished... so you'll just have to read the swings yourself.)

1. Suggest caution on longer-term longs until/IF SP closes and holds above 4200.

2. IF the Big Bear Count turns out to be correct, now would be a good time to hedge/sell/short.

FWIW...
 
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Big picture :

ES - not bullish, not bearish

Hangseng & China A50 - not bullish, slightly bearish

Nikkei 225 - not bearish

Germany DAX, France CAC40, UK FTSE100, India Nifty - bullish


So if BIG BEAR is coming, why
the European & Indian markets are soo bullish?
What did the Americans do wrongly?


I have thrown my abcde ABC 12345 Wave books into the Mount of Doom.
I don't use Elliot wave things.
 
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Clubber Lang said:
Elliot wave is complete nonsense.
It’s always “could be this or that”.
Then after the fact EW fans say it was all laid out.

So here’s Clubber’s wave theory-
If the market doesn’t go up, it will go down…unless it stays relatively flat.

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More...

There is this maxinger's Wave Theory too.

Most likely Elliot did not spend
thousands and thousands and thousands of
hours staring and analyzing
thousands and thousands and thousands of charts.
Definitely, his book publisher did a very good job in selling books.
 
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maxinger said:
There is this maxinger's Wave Theory too.

Most likely Elliot did not spend
thousands and thousands and thousands of
hours staring and analyzing
thousands and thousands and thousands of charts.
Definitely, his book publisher did a very good job in selling books.
More...



Well we may never know: there are nine trade rooms with the word Elliot in their name and another 17 that claim to trade Elliott wave and yet not one actually trades nor do any of them have a track record.
 
Clubber Lang said:
Elliot wave is complete nonsense.
It’s always “could be this or that”.
Then after the fact EW fans say it was all laid out.

So here’s Clubber’s wave theory-
If the market doesn’t go up, it will go down…unless it stays relatively flat.

Subscribe to my service for more crystal ball picks.
More...

I say it wants to go higher but it COULD go lower.
 
Clubber Lang said:
Elliot wave is complete nonsense.
It’s always “could be this or that”.
Then after the fact EW fans say it was all laid out.
More...

Nope. Not nonsense. (Y'all should know by now... I don't post BS/nonsense when it comes to Price TA. When I state "it's a fact", it is. Otherwise I say "it's a possibility to be considered".)

I've known of Elliot for years. The "big wave count" almost always clearly reveals in hind-sight*. The value is in "getting close" on it as it develops. Right now is possibly* one of those times.

*This is my "first notice" of big wave structure since the top in November, 2021... I actually nailed that one "to the day", but I didn't post it to the ET board. I did, however, send a PM to a trader noting it as a "possibility"... and it was! (I don't use the term "call on the market"... I only note the reasonable possibility which should be taken into consideration.)

Prior to the 2021 top, I'd made a couple of "possible" notices which turned out to be wrong/early. That's the good thing about "Price TA"... that is, you have a specific reason and a specific price which you can "give it the benefit of the doubt" with a tight stop.... which if correct, you nailed it. But if wrong, you didn't lose much with your stop. That's as "good as it gets". Right now is one of those "possible" times, IMV.

*EWT devotees like to think you can trade every wiggle with wave counts. Frankly, I don't see that. But the "Big Wave Count" is a different matter... the most valuable of which is "Wave 5 of 5th"... plus any Wave 3.
 
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