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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday, 24 July 2010

My attempt at an Elliott wave count on SPX

I have stepped out of my comfort zone and attempted an EW count.I am sure it probably breaks some rules ,and have asked some the talented wave counters on the chatroom I use to point them out ! 
(chatroom or CIL on http://ewtrendsandcharts.blogspot.com/   ...well worth a visit !)

targetting 656 if C=0.618X A 

I am happier with the "multiple large zig zags for several years" scenario (like the japanese experience) rather than superbear (or superbull scenarios) ie trading range 650 -1250 ? 



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