ZigZag Fractals - Part 3 of 3

Elliott Wave analysis of the rise in the S&P 500, gold and the U.S. Dollar, through April 01, 2010 using a more refined technique of as suggested in the Neely methodology. Nothing in this video is intended as trading or investment advice. This video is educational and explores the question of whether Elliott Wave theory is valuable in real time market analysis or not. This video also helps to provide historical market perspective and explore topics not often available to the general public. Please comment on and / or rate the video with your suggestions for improved clarity and or content.

Category:

Science & Technology

Tags:

• Elliott
• Elliott Wave
• S&P
• Stocks
• Stock Market
• Nasdaq
• FTSE
• Technical Analysis
• Andronichuk
• Gold
• Dollar

[skipiste1]

a few weeks ago you were forcasting Gold to drop down to the $400 region. is that still your long term view or is that now off the table in your opinion?

many thanks

[ElliottTrader]

It's still the long term view, but looks like we'd close the gap at 1,150 first and possibly head to 1,186 in wave c of 2, up, first.

[ElliottTrader]

Update: it looks like we have now closed the gap at 1,150.

[luvzpalin1]

Its been frustrating but this looks correct thanks

[ElliottTrader]

Thanks, I think it would be useful to note two other things.

The first is that even though we are likely going to make a 5th wave up of "C" to end the "Z" wave of the triple zigzag, this market rise has now been a Fibonacci 55 weeks as of last week, so the rally is either "living on borrowed time" or we are going to 89 weeks.

Second is the FEDERAL RESERVE has a non-routine meeting scheduled on Monday on their web-site to discuss the DISCOUNT RATE.

[ElliottTrader]

One technical comment on this video: on the weekly gold chart, the capital "B" wave rise in December, 2009 has a typo. It was intended to be labeled as B:3, but in error it was labeled B:5. "B" waves are always three wave sequences in Elliott theory.

[skipiste1]

a few weeks ago you were forcasting Gold to drop down to the $400 region. is that still your long term view or is that now off the table in your opinion?

many thanks