Loading ...EW heads up
My own work does NOT employ EW directly.
But I can read and judge it pretty well.
I prefer to browse and not rely on any one source. Like sports, consistency is hard.
But several are now on the doorstep of the very same nested bear count. C word.
I treat these like a tornado WATCH ahead of a WARNING. Keep your eyes and ears peeled.
I’m wondering if it will be technical, or triggered by more insanity from those in high places.
Oddly, this count is coming on almost textbook oversold conditions that would normally provoke a huge relief rally.
(C word events are known to arise out of oversold conditions.)
Appreciate the heads-up, Pedro, thanks. Amusing (that’s probably not the right word, maybe head-scratching) that your post would be juxtaposed to this one by Avi Gilburt (EW guru? Some say so, particularly him.) – https://www.elliottwavetrader.net/market-update/Initial-Signs-Of-A-Bottom-202205237820705.html ‘Many sources’ seems like a good idea to me too, but my sensibilities tend to get me to freeze up rather than act with confidence when I try to synthesize different views. Don’t suppose you have any feeling for something simpler, like ‘S&P will be rejected from 50 DMA and the financial markets will crumble into ruin faster and farther than ever before’… or something like that?
Particularly him 🙂
Ain’t it the truth
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https://breakpointtrades.com/free/
here is the ‘new player’s which let’s you skim and skip to what you like
https://breakpointtrades.com/free/new_player/?nl_id=5449
Thanks!
I remember BPTs from many years ago. Solid work from them.
My motto though is have your own toolkit, but stay abreast of what others see.
I frequently see Avi’s work. He’s methodical but has his blind spots.
Given the oversold condition at HIGH degree, a crash here would mean that momentum/liquidity has turned down at even higher degree, and its now the driving force and will remain so.
I’ll point to public posts on this concern over the weekend.