Black Monday

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#1
Hello dear fellows,

It very possible that we are going to see "a lot of blood on the stocks" tomorrow. If my interprets are correct, the Nikkei just yelled SELL signal at weekly chart (MACD) and SP500 followed (daily; RSI14 and CCI) and also DAX agreed (daily; RSI, CCI, Williams R%).

If you look at Elliott Wave side of the view, you can see that the SP500 and DAX are making impulse which is doing w5 right now and can be considered now ready. This should at least make you worried.

I dont follow the sensex but if I can remember right, the pattern were pretty much similar in there.

So... you are now alarmed. If fall will start, it will be quick and dirty. Dont hesitate to sell.

tnx,
therek :eek:
 

winstonn

Well-Known Member
#3
hi friend,:)

elliot wave is highly subjective and it's like a time bomb - even experts dont know which wire to cut for diffusion ! :eek:

i suggest you to trade and not predict the markets!!!!

Elliot wave works best on weekly charts and according to me , it should be one of your trading tool to know the general market trend as up or down or sideways up , sideways down!!! once this is know, use the trend following indicator when genereal trend is up or down like MACD , MA on daily charts

and when markets are sideways or volatile use range bound osci like RSI , Stochastic , ROC , Momentum etc. on daily charts.:rolleyes:

the price and time prediction by elliot wave is dangerous as it can rub all the capital !!!!

regards,
winston
 
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