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 Gold Customer
Joined: 3/10/2005
Posts: 12
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Had been quite a few posts from Elliott Wave practitioners months back. Assuming some are still checking in, I was wondering if they would share thoughts on the current market direction?
Always interested in cyclical perspectives...thanks.
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Registered User
Joined: 12/21/2004
Posts: 902
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ditto... I find that stuff fascinating and wish I understood it more.
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Registered User
Joined: 9/14/2007
Posts: 38
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The problem with elliot is how to measure the wave - somewhat dependable on what you want ot see or your eyes see.
Per example lets mark a start point - the beginning of the bull market back in 2003 - some folks would say that we are currently in the phase 3 of elliot, some others would say we are in phase 5 - which one favors your taste?
I personally think we hit 5 already and we are currently in the A, B , and C retracement.
But when will it finish?? will it finish? Perhaps this will turn into a real bear - the you have to regroup your elliot counting and you would probably end up in some other wave.
As with any other indicator - half of the truth is up to the reader.
good luck.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I neve put much store in Elliot Wave. Just seems a little to far out there for me to believe it.
What is 5 and the ABC retracements?
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Gold Customer
Joined: 11/13/2004
Posts: 102
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brnxbomber - I use Elliott Wave for trading extensively (not exclusively) but I don't rely on it for an entry point unless the wave picture is clear. Right now I don't see a clear wave count on the major equity indexes. I find it common for the "experts-for-a-fee" wavers to have a count all the time. But I doubt that they have their own money on the line.
soc
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