WOW!!!
The Elliott Wave Trader knocks the ball out of the park on this special extended length week-end video. For those of you from the Chatroom, you know him best as ET. He starts out with a look at the long-term SPX and how to define 3rd waves by using the Relative Strength Index (RSI), followed by a closer look at the "Hope" rally and follows up on what constitutes an Impulse wave from some awesome work done by Binve at Market Thoughts and Analysis. ET, then finishes up the video with a very detailed look at the short-term squiggles and a couple charts of the Dollar.
This is an EXCELLENT video using REAL orthodoxed Elliott Wave Theory and includes some very impressive Fibonacci relationships.
Please check out ET's new website The Study of Cycles now in the last phases of construction, and subscribe to his You-Tube's at Elliott Wave Trader.
Thanks Michael. Enjoyed the RSI >80 analysis...
ReplyDeleteJordan
There are a couple things I don't understand.
ReplyDelete-1- The premise is to eliminate the possibility that this is a 3 wave. However, if this were a major 3 wave, wouldn't we be in the initial stages of it and perhaps the 80 RSI is still on its way?
-2- Also, he seems to be expecting this major C wave to conclude here soon. However, if it did, it would be nowhere near the length of the major A wave. If it were the length of the major A wave, wouldn't the C wave wrap up somewhere between 1500-1600 in summer-fall of this year?
Thanks.