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Elliott wave outlook

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  • #7,961
  • Feb 21, 2013 4:54am Feb 21, 2013 4:54am
Anyone who doubts EW and charting needs to look no further;

Cable original possibilities;

http://i1168.photobucket.com/albums/...h31-01-13a.png

A little later;

http://i1168.photobucket.com/albums/...2h11-02-13.png

I went against a lot of mainstream analysts with my count here. Most were calling my A wave the 4th, to be followed by an ending diagonal. Well they must have been left scratching their heads when it ended in 3 waves instead.

Update;

http://i1168.photobucket.com/albums/...4h21-02-13.png
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  • #7,962
  • Feb 21, 2013 5:05am Feb 21, 2013 5:05am
Earlier EJ;

http://i1168.photobucket.com/albums/...1h15-02-13.png

Update;

http://i1168.photobucket.com/albums/...1h21-02-13.png
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,963
  • Feb 21, 2013 6:45am Feb 21, 2013 6:45am
Quoting The Cableguy
Anyone who doubts EW and charting needs to look no further;
Beautiful Pictures as Prechter likes to call them...
cryptocurrency everytime
  • #7,964
  • Feb 21, 2013 6:49am Feb 21, 2013 6:49am
Quoting The Cableguy
Earlier EJ;

Update;

http://i1168.photobucket.com/albums/...1h21-02-13.png
I believe the e wave is not complete yet and that the current position (where it meets the rising diagonal) will be the battleground for the 4th wave (alternatively X). You have an opinion about the internal structure of e?
cryptocurrency everytime
  • #7,965
  • Feb 21, 2013 7:41am Feb 21, 2013 7:41am
Quoting venzen
I believe the e wave is not complete yet and that the current position (where it meets the rising diagonal) will be the battleground for the 4th wave (alternatively X). You have an opinion about the internal structure of e?
small A&B, C with running correctives... has now bounced off of my TL, that's why i put the question marks?
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  • #7,966
  • Feb 21, 2013 7:42am Feb 21, 2013 7:42am
Quoting venzen
I believe the e wave is not complete yet and that the current position (where it meets the rising diagonal) will be the battleground for the 4th wave (alternatively X). You have an opinion about the internal structure of e?

Yesterday, I posted wave E ending but I had slightly contracting diagonal.
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #7,967
  • Feb 21, 2013 8:04am Feb 21, 2013 8:04am
GM, Euro yen how I see
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Click to Enlarge Name: 13.feb.21.png Size: 36 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,968
  • Feb 21, 2013 8:05am Feb 21, 2013 8:05am
Quoting Mr. Scott
Yesterday, I posted wave E ending but I had slightly contracting diagonal.
Hmmm, wave e seems to be over, but I dunno... a bigger move down seems to be lurking in the charts - I can "feel it in my water" as my mother likes to say.

If my intuition proves to be only wishful thinking then the alternative, I guess, is a longer upward move in tandem with the stock indices drawing out wave 2 of their recent decline in 5 waves.
cryptocurrency everytime
  • #7,969
  • Feb 21, 2013 8:13am Feb 21, 2013 8:13am
Quoting Luis Carlos
GM, Euro yen how I see
Yes, Luis, your count confirms what I expect to see. The move down from your label III is definitely corrective in structure. Now I'm trying to imagine a future where the Euro is stronger than it is today... and at the same time as a strengthening USD....hmmm..

.. maybe the Fed will come out and say they were only joking about cutting back the QE....
cryptocurrency everytime
  • #7,970
  • Feb 21, 2013 8:21am Feb 21, 2013 8:21am
Quoting venzen
Yes, Luis, your count confirms what I expect to see. The move down from your label III is definitely corrective in structure. Now I'm trying to imagine a future where the Euro is stronger than it is today... and at the same time as a strengthening USD....hmmm..

.. maybe the Fed will come out and say they were only joking about cutting back the QE....
My friends, I just post what I was working on and with. But I like Luis' target and can appreciate your "feeling."

Fundamentally, the US economy stinks and is getting worse from someone who lives there. They might not like QE infinity but they are in a catch-22, imo. Also, sequestration hits March 1 so fun times.

I try to look at charts, but understand the desire to match the fundamentals with the charts.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #7,971
  • Feb 21, 2013 8:23am Feb 21, 2013 8:23am
Quoting Mr. Scott
desire to match the fundamentals with the charts.
Called Fundatechnicals...
If you think you can or cannot do it you are correct
  • #7,972
  • Feb 21, 2013 8:36am Feb 21, 2013 8:36am
Euro dollar view
Attached Image (click to enlarge)
Click to Enlarge Name: 13.FEB.21.png Size: 43 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #7,973
  • Feb 21, 2013 9:06am Feb 21, 2013 9:06am
Quoting Luis Carlos
GM, Euro yen how I see
I like your count too. Even though on mine, what you labeled wave III ends at "b of IV" (therefore creating a truncated wave 5 inside III). Maybe i'm wrong on my count though.

But for the main part (down target) we agree
  • #7,974
  • Feb 21, 2013 9:06am Feb 21, 2013 9:06am
Here you go, Venzen. Article that mentions lousy economy, catch-22, and more QE that ultimately leads to inflation and crash. Great timing.

http://finance.yahoo.com/blogs/break...121419261.html

In the movie, Field of Dreams, the tagline was, "If you build it, they will come." Similarly, on the street of dreams, the new vibe seems to be, "If you seek bad news, you will find it." How better to describe the global heartburn that has ensued following the release of the minutes from the FOMC's January meeting. The 16-page recount was filled with positive commentary and anecdotes that are anything but troubling, such as: "In general, participants indicated that, relative to the recent past, more business contacts reported an improvement in confidence and some cautious optimism about the economic outlook."

However, at a time of heightened concerned about an over-extended bull market, rising interest rates and unsettled fiscal matters in Washington, investors chose to drill down on the committee's discussion about the effectiveness of its open-ended program of bond purchases.

"Many participants also expressed some concerns about potential costs and risks arising from further asset purchases. Several participants discussed the possible complications that additional purchases could cause for the eventual withdrawal of policy accommodation, a few mentioned the prospect of inflationary risks, and some noted that further asset purchases could foster market behavior that could undermine financial stability."

While the Fed has agreed to further study the risks and rewards of QE3, many investors are simply nervous and looking for a reason to sell. Add in the fact that with one negative quarter of GDP already in the books, we are halfway home to officially plunging back into recession and some market watchers see a damned-if-you-do, damned-if-you-don't scenario for the Fed.
"I believe that you have tremendous headwinds [hitting] the economy in 2013," Michael Pento, the President of Pento Portfolio Strategies says in the attached video. They include increased taxes, rising interest rates and record gasoline prices for the winter driving season. "If you add all that up, it's easy to understand why the Walmart customer has pulled back."
If he's right and we, indeed, see growth slow further, Pento says that Federal Reserve Chairman Ben Bernanke would never just "sit on his hands and do nothing" while the economy implodes and unemployment rises. In fact, he says, should the double-dip become a reality, then he's certain Bernanke and the Fed would once again take the easy way out and "increase the amount of monthly debt purchases" from the current $85 billion to perhaps as much as $150 billion.
It would certainly be a controversial move. However, it's one Pento considers to be "the most likely course of action," given the Fed's history of taking the painless route — at least for the short-term.
That's because, despite Bernanke's assurances that he will be able to manage the biggest deleveraging in history, the Fed chief "doesn't understand that his balance sheet is unshrinkable." Pento adds, "Bernanke's devotion to inflation is deadly for the economy."
To be fair, the Bernanke doctrine of endless intervention has, so far, not stoked inflation. However, Pento says "the minute he stops purchasing [bonds], interest rates will skyrocket" and the yield on the 10-year Treasury would jump to 3.5%.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #7,975
  • Feb 21, 2013 9:29am Feb 21, 2013 9:29am
Quoting Mr. Scott
Here you go, Venzen. Article that mentions lousy economy, catch-22, and more QE that ultimately leads to inflation and crash. Great timing.

... "Bernanke's devotion to inflation is deadly for the economy."
To be fair, the Bernanke doctrine of endless intervention has, so far, not stoked inflation. However, Pento says "the minute he stops purchasing [bonds], interest rates will skyrocket" and the yield on the 10-year Treasury would jump to 3.5%.
Thanks for the article Scott, food for thought there and some eventualities I hadn't thought of... the theme of inflation again...
cryptocurrency everytime
  • #7,976
  • Feb 21, 2013 10:23am Feb 21, 2013 10:23am
Have we finished wave C on the EU or are we just starting wave 2 of C...that is the question?
  • #7,977
  • Feb 21, 2013 11:02am Feb 21, 2013 11:02am
taking a short scalp from here! Long that is...
  • #7,978
  • Feb 21, 2013 11:14am Feb 21, 2013 11:14am
Quoting MeInGraySuit
taking a short scalp from here! Long that is...


against the trend?

Olu
If you think you can or cannot do it you are correct
  • #7,979
  • Feb 21, 2013 12:54pm Feb 21, 2013 12:54pm
Quoting Olu
against the trend?

Olu
Just a quick scalp (hopefully) only 500 lots!!
  • #7,980
  • Feb 21, 2013 1:51pm Feb 21, 2013 1:51pm
Quoting MeInGraySuit
Just a quick scalp (hopefully) only 500 lots!!
How is it going now. Still in?

Olu
If you think you can or cannot do it you are correct
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