For Trading and EW Novices For those of you who know little about Elliott Wave and apparently don’t want to read the book to learn about it, let me try to make a few things a little clearer. I called this B wave (that we’re near the top of) a corrective wave right from the… Read more
Market Forecast Overview
The Waves Tell the Story I get asked from time to time whether the actions of central bankers influence the way the market moves. The answer is “yes and no.” The “yes” part is that from 2009 to the present in the SP500 and related indices, we have a B wave, which is highly unusual… Read more
Full Moons Well, the influence of the full moon on Wednesday didn’t do very much to affect the markets. But, it was certainly apparent in the free blog: Animal spirits were out of control and on full display. I’ve attempted over the past several years here to promote the idea that the manner in which… Read more
Not Much Left to Say I’m expecting an imminent downturn in the US indices, and just about everywhere else. The small fourth wave from the week before last took 5 days to the downside. I predicted that the fifth wave up would take a similar amount of time, projecting a top either this past Friday… Read more
Ralph Nelson Elliott’s Work Ralph Elliott’s ground-breaking book, Nature’s Law — The Secret of the Universe, was published on June 10, 1946. He died less than two years later, on January 15, 1948. He has been in ill health for over twenty years, an affliction that struck a couple of years before the 1929 stock… Read more
We Wait … Last week, I noted that “the ducks were all lined up” for a turn to the downside. These “ducks” are all the assets I cover on a daily basis. But stubbornly, my ducks have not budged. They have been moving sideways this week in what might be a final contracting triangle. We… Read more
Trigger Time Yes, it’s more than time to be looking down from here. We’re at extremes in all the usual indicators that I look at. In fact, some of them are so extreme, it’s amazing that this market has been “levitating” as long as it has. But it has one unusual factor that’s the cause… Read more
Greed is at Extreme Levels Being a steadfast contrarian if absolutely critical if you’re involved in any capacity in the stock market. The market swings from fear to greed and if you have a good handle on where we are in the pendulum swing (cycles again!), and commit to staying on the opposite side of… Read more
The Pressure is Mounting Well, it’s that time again, when I get several emails trying to tell me what to do and where the market is going. I try to stay well away from all of them. They are counter-productive to my work. I cannot do my work without remaining absolutely objective in my approach… Read more
The Eve of Destruction — 1965 Barry McGuire sang “The Eve of Destruction” from hand written notes (in a single “take”) in a recording studio rehearsal in 1965. It was not supposed to be the final soundtrack for that song. It was written by P.F. Sloan, who wrote hit songs for Johnny Rivers (“Secret Agent… Read more
