The market is seeing something we dont see yet—

FriskyCat said:
Have you ever checked out Miner's book on E-Wave? I think that it's a bit more refined than Prechter's book.
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I have not.

Don't think I have any interest in "getting to know EW better". My limited use and understanding is useful enough for my KISS style.
 
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Scataphagos said:
I believe so. My best read right now was that yesterday was either part or all of "W4 of 3 of 1" in the new bear market. (There is a protocol for describing the labels with larger numbers, brackets, parentheses, etc. I'm too lazy for all of that. I only care about what I believe to be the "most important picture right now". Sometimes it's not clear at all, but eventually becomes more so.) Since the high in early October, the "count" has been as close to clear as it ever gets. We'll see.

Prector's EW work in the '70s was done before we had "interventionist markets". I often wonder if those kinds of things will make the major notions of EW invalid. Not yet AFIK.
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Seems EW is some form of Fourier Transform that can be made to fit any past pattern. Trying to predict the future and making money of it is a different thing though :)
 
Scataphagos said:
I have not.

Don't think I have any interest in "getting to know EW better". My limited use and understanding is useful enough for my KISS style.
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Right, I understand. I've tossed away so much of the stuff that I've looked at over the years.
 
Scataphagos said:
Pardon for quoting myself... but to give you an idea of how complicated EW can be... I once had EW software which would run all of the possible counts and highlight its "best" and "alternate" counts. I remember one time the software indicated it had run "94 MILLION" possibilities. I recall the software nailing it only 2 times.
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Sounds like SOME ET’ers:D
 
Right now, practically every mainstream financial media outlet (Marketwatch, Bloomberg, etc.) are calling for new lows and an extended bear market. At least 80% of the headlines are negative. The market usually does the opposite of what people expect and it causes the majority to lose money (whether shorting or moving to cash in retirement accounts). I'm not calling a specific bottom, but this is really looking like a contrary indicator.

On a side note, I can't believe anyone still trusts EW. There's zero statistical evidence and it's totally subjective. Show me an Elliot Waver with a 10+year real-time track record of beating the market and I might slightly change my opinion. I've asked some high-profile ones for 3rd party, audited performance and only received crickets as a response.
 
MKTrader said:
Right now, practically every mainstream financial media outlet (Marketwatch, Bloomberg, etc.) are calling for new lows and an extended bear market. At least 80% of the headlines are negative. The market usually does the opposite of what people expect and it causes the majority to lose money (whether shorting or moving to cash in retirement accounts). I'm not calling a specific bottom, but this is really looking like a contrary indicator.

On a side note, I can't believe anyone still trusts EW. There's zero statistical evidence and it's totally subjective. Show me an Elliot Waver with a 10+year real-time track record of beating the market and I might slightly change my opinion. I've asked some high-profile ones for 3rd party, audited performance and only received crickets as a response.
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Could it be fake news? Must be if mainstream dishing it out! ROFLMAO
 
MKTrader said:
Right now, practically every mainstream financial media outlet (Marketwatch, Bloomberg, etc.) are calling for new lows and an extended bear market. At least 80% of the headlines are negative. The market usually does the opposite of what people expect and it causes the majority to lose money (whether shorting or moving to cash in retirement accounts). I'm not calling a specific bottom, but this is really looking like a contrary indicator.

On a side note, I can't believe anyone still trusts EW. There's zero statistical evidence and it's totally subjective. Show me an Elliot Waver with a 10+year real-time track record of beating the market and I might slightly change my opinion. I've asked some high-profile ones for 3rd party, audited performance and only received crickets as a response.
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I can't show you an audited track record these days based upon anything let alone EW, but if I "splained" it to you, you'd go, "Hold crap. Why didn't I ever see that"? (Years ago when I was an RIA managing customers' funds, I could have.... audited track record, of course... not EW "based", just included. I'm no more full of BS now than I was then. In case you don't know, RIAs are not allowed to lie or exaggerate.... which basically is why they don't advertise their track record. :))

EW's "5 Waves" is one of THE most clear and obvious applicable concepts to the market (in hindshight, of course... more to the story.)
 
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