Dow Jones Elliott Wave Weekend Review (26/09/2010)

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This is my interpretation using Technical Analysis and Elliott Wave Theory to look at financial markets. Elliott wave is my preferred tool when looking at the stock market, I believe that it can work to reflect the "psychology" of the market quite accurately.


This video should NOT be taken as investment or trading advice.

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[jacksoncarreras]

we are living in the most heavily manipulated market in history. i just can't take the time to sit through too much technical analysis, although you've clearly worked hard at this and make an interesting case. I have friends who can talk circles around me when it comes to economics, yet they're the same friends who told me not to worry in august 2008 and that gold hit a ceiling at $1,000, or $1250. it doesn't matter if the market is up when your gains on the DOW are negated by rising prices.

[Andronichuk]

@jacksoncarreras I agree with you... the real returns on any growth of the Dow are going to be minimal (if not negative)....

One chart that illustrates the picture better than I can articulate is the Dow priced in terms of Gold...

Has been falling non stop since late 1999... infact it is now down around 80%!!!

Most people think that when I say the market should go higher that I am optimistic on the economic fundamentals... not so....

My main point is that the markets are NOT perfect!

[tradeyourwayout]

your structure is off again. at 11:46 you call the rally off the march low as a complex A which ends at April 2010 (so we call it a corrective 3). then you have a corrective B which is small in price and then a 5 wave C to give a larger (d). so you are saying the structure is 3-3-5, but your B is way too small in price for it to be considered a B wave of a flat - 3-3-5. so far the market has proven my count, the rally looks like a wave 3 since the 1040. i think a new high will be made soon.

[Andronichuk]

@tradeyourwayout

No the market rally off the March lows is a tripple zig zag completed (5 waves although corrective (w-x-y-xx-z)). I am not arguing for a flat and a 61.8% retracement of the rally to April highs is hardly "small" (if we get it).

Essentially I think it is a "zig-zag" of some form, but the A leg of this zigzag consists of 5 waves (w-x-y-xx-z) instead of conventional 5 waves which each have impulsive subdivisions.

[philolson321]

You are off your rocker if you think this market is headed up over the long-term.

[Andronichuk]

@philolson321 I don't mind opposing opinions... but let me know why you think I am "off my rocker". Honestly I am not preaching on here... I always welcome discussion and debate and sharing of ideas.

Why do you think this to be impossible?

[marque1999]

@tradeyourwayout Ok my bad. Indeed a triple zig-zag cannot be the wave a of a bigger degree zig-zap coz the internals just doesnt have a 5 waves even if itself is a 5 waves structure.

Hey you didnt pay me for the comments right? We could use abit of courtesy here!

[marque1999]

@tradeyourwayout I've only read that book once....pray quote me where in the page did it ever mentioned "Complex Corrections (Flat, Irregular, Triangle) and triple combinations is the same thing!"

You have got no idea what i am talking about. Yeah

[marque1999]

@tradeyourwayout Im refering to "Complex Corrections (Flat, Irregular, Triangle)"

Pray tell me if a triple combination can be a wave a, no?

Complex Corrections (Flat, Irregular, Triangle) are not the same as triple combination! Im not too sure about other books....In R.Pretcher book, he's didnt mentioned complex correction n combinations are the same thing!

[orangedac]

@jacksoncarreras

Same here bro. My view is that the financing & banking dudes pushing complicated economic theories don't have a clue themselves what's going on. Most of them are just rolling dice.

With all those PhDs sitting on the federal reserve, the only solution they can come up with to any problem is "print more money".

More and more, economics as its currently practiced is looking like a money printing racket rather than a science.

[tradeyourwayout]

@marque1999 "complex corrections cannot be wave a. However, triple combinations, Yes" you have no idea what you are talking about... complex corrections and triple combinations are the same thing!!!

[marque1999]

@tradeyourwayout Complex corrections cannot be wave a. However, triple combinations, Yes.

Im not too sure why you keep insisting that the recent moves is implusive. The rally of march could alway be wave b which is imcompleted and it could alway take us higher. Even if this rally take out april high, it can alway still be wave b