The Elliott Wave Principle and Probability The Elliott Wave Principle is a theory based upon probability. A common definition of “probable” is “a reasonable amount of suspicion, supported by circumstances sufficiently strong to justify a prudent and cautious person’s belief that certain facts are true.” There’s a very good dose of science in it. The… Read more
Market Forecast Overview
The SP500—About Five Miles Out I’ve maintained for several years that this final wave up in the US indices is a corrective wave. It simply cannot be motive, as it breaks too many Elliott wave rules. But I see so many disregarding the obvious, which is the main issue I have with all the “pretenders”… Read more
All this talk about a Trump rally … absolutely ridiculous! Elliott waves predicted this rally a years and a half ago—even longer, in fact. So, what are the financial pundits talking about this time? The thought of every word that Donald Trump utters having any real effect of the market is just ludicrous. Knowing that the… Read more
Exactly, kitty! Let’s take a look under to hood … er, sofa in your case. This weekend, I want to look at the chart of ES (e-mini SP500 futures) and “pull apart” the idea that it’s a motive wave. To do that, we need to look “under the fabric.” The “Right Look” Ralph Elliott cautioned that… Read more
Setting Up for a Lucrative Trade Last week, I talked about the “right look” of motive waves. These are waves comprised of five subwaves. At the end of five waves, they have to retrace either 62% (corrective second wave) or 38% (corrective fourth wave) and then start another motive wave of 5 in the same… Read more
If you know anything about Elliott waves, it’s probably that there are two types of waves: “motive” and “corrective.” Motive waves are in 5 waves (trending waves) and corrective waves are in three waves (moving counter to the trend, or “countertrend”). Motive waves advance the trend through having a larger number of waves than corrective waves. Within those five… Read more
Interview Playback: Recorded Wednesday, April 19, 2017 Interview by Dale Pinkert You can watch here. Elliott Waves and Probability Elliott waves are price cycles. The work by Ralph Nelson Elliott in the 1930s-50s identified a wave structure for the stock market the was heavily based on the fibonacci sequence, although his work most concentrated on the structure and, more… Read more
Upcoming Event: Wednesday, April 19, 2017, 10am EST Interview on Dale Pinkert’s Webinar. You can join it here. Dale tells me it will be 20-30 minutes at 10am. Fourth Wave Combinations Fourth waves at this high level of trend typically form combination waves. What this means is that more than one Elliott wave corrective pattern… Read more
Changes to the Free Blog Last week, I ran a bit of an experiment in the free blog area. I shared the prediction specifics for ES, complete with entry and exit points. I alerted this group to the potential for a rise to either the 2266 or 2276 area with a subsequent CAUTION alert when… Read more
Video on My Estimate for the Market Top: “Timing the Top” Velocity of Money chart mentioned in the video httpv://youtu.be/J93F2lDjngg Make sure you zoom the video to full size with frame expander (arrows) in the bottom right hand corner and also set the quality to as high as your web connection allows. This is an… Read more
