sp 500 elliott wave forecast from 2010 to 2023 - august 9, 2010

[mquartarone]

Good explanation David. Thanks for giving us another count to think about.

[ElliottTrader]

Very good video David, and certainly a plausible scenario. 'Usually' in a contracting triangle the b wave does not travel beyond the start of a, but there are some web references that the accuracy rate there is about 60% (not EWI information). All of this makes me wonder how you view this scenario in light of the other Elliott guidelines such as forming parallel trend channels, etc. As for Neely, I remember him saying the rise from 3/2009 is "not an Elliott structure of any type". Odd?

[tradeyourwayout]

@ElliottTrader thanks buddy :-) i take more of the stuff i understand with Neely and what makes sense to me. i don't agree with him all the time but his implementation of logic really helps eliminate multiple counts so that you are left with only one count. his work isn't the orthodox EW, but if it must be more accurate then why not study it. let's be real, pretcher simply found some notes of EW and then elabourated it to what he thought it meant. so why can't others do it? :-)

[Andronichuk]

Nice video mate. I think Prechter is working a bit too hard to grab those media headlines with his Dow 1000 calls.

[tradeyourwayout]

@Andronichuk thanks, i think pretcher only had 5 years of real fame and that was from 1982 - 1987 with a call of the rally. after that he remained bearish all the way through most of the dot com rally. now i think his real abilities show, you only hear of him when he calls something right and then he gets a great praise. i think Neely is much better and more accurate - he record is about 70% right which is amazing. i think he really took the theory to a new level.