Elliott Wave Update 01_21_11

Elliott wave analysis of what may be a January peak in U.S. equity prices with a look at the longer term counts in Crude Oil and current relationships in the US Dollar Index.

Nothing in this video is to be taken as trading or investment advice. This video is educational only and explores whether or not the Elliott Wave theory can be useful in determining market direction. It also serves as education on Elliott Wave Theory and on recent market history. It is not a solicitation to buy or sell any securities. Market participation can be a risky endeavor, and cause loss of some or all capital. Consult your financial adviser regarding the suitability of market participation regardless of any information in this video.

The information contained herein is exclusive to the "studyofcycles.com" and is subject to the applicable copyright laws. Reuse or republication without the expressed consent of the author is prohibited.

Category:

Science & Technology

Tags:

• Elliott
• Elliott Wave
• Stocks
• Stock Market
• Technical Analysis
• Dow Jones
• DJIA
• NASDAQ
• S&P
• SPX
• FTSE
• Shanghai

[gigglo01]

I wish to ask one doubt about the USD EW count. The time for the ( W1 ) ( marked in green ) up from Nov 2010 is hardly 30 days.....

But the Corrective waves (W2) from Dec till Now says its more than 60 days...

I wish to ask you about the basics of the time taken for the waves to get complete. On what condition W2 can be longer in time than W1 ?????

[ElliottTrader]

@gigglo01 Well, let's reason by example. If you think gold has been in a bull market, please examine a monthly gold chart from 1998 forward. You will see after Gold bottomed at $250, it made two monthly bars higher, actually one and part of a second, as Wave 1, up. Then you will note fully 16 or 17 bars that form corrective wave 2, lower. Recall that it is literally the function of corrective wave to waste time waiting for the next impulse. Hope this helps. Cheers.

[xicodoporto]

on sp500....X waves cant be more than 61,8% than first retrace is not an X....

[ElliottTrader]

@xicodoporto I went back through the EWP to look for a statement that X waves can not be more than 61.8% but in the sections on correctives no such reference could be found. If you have a reference within the EWP and would like to provide it, it will be revisited.

[xicodoporto]

@ElliottTrader just if double three.... X waves are continuation correction.... than what i see is a running X till 1173.... and in 1039 is wX....

[ElliottTrader]

@xicodoporto You did not provide a reference so, for now, its time to move on.

[ElliottTrader]

@VoDoAu Yes! And a very wise man once said, "in order to know where you are going you at least need to know where you have been."

[ElliottTrader]

@mkots23 Thanks very much. The comment is appreciated and hope I can continue to live up it.

[VoDoAu]

EW is funny, it can describe past :-)

[frankwieder]

good video ET  see ya in the cil hillbilly