Browse Symbol Stacks: DJIA: Dow weekly 2.png
Dow weekly 2.png
I know most of you think nothing of EWT for many reasons. But iffffffffffffff my count is correct then it suggests very long term bad things for many of us. Dow possibly down to <1000. Hope I'm very wrong. Hate to think what would mean is going to happen socially and politically. Take Care Tom B
The problem is not being able to place a bet in hindsight. I think the fact that so many programs "see" where buy and sell orders are these days, algos know how deep to buy and how long to sell into, running stops on both ends to max out profits. Add a Fed improperly intervening in the "free" market and a Congress that has been happy to suspend its oversight responsibility, and EWT, once slightly predictive, is now a dinosaur.
Elliott Wave is still useful to help new investors/traders understand the rhythm of the market, but is not a good method for making buy/sell decisions.