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Forget All The Hype About A "Bearish Wedge" My Elliott Wave Read Is a Repeat of late '99

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Uploaded by on Oct 26, 2009

There's a lot of hype these days about a so called bearish wedge in the indices, or a "top" pattern...but if you look at the chart from the Oct 98 low to late Dec 99, we got the same pattern...instead of getting a drop, we got a GIGANTIC rally.

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  • in 98-99, there was no monthly-quarterly double top in the S&P...therefore I think that scenario may not be used for comparison. With that said, I could care less if the trend continued higher or we broke down from here; I would be following this uptrend, until I started to lose money and would easily go short, if we initiate another major move down.

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