Elliott Wave Leaderboard

Tuesday, February 7, 2012

Has the Dow Topped Out?

Another Decline Coming.....Nahhhh....?

There was no real reason besides the European Union for the U.S. stock market to decline in 2011 but it did. This happened in 5 waves down (not labeled), followed by the correction upwards that we are still in Today. Today's futures call for a lower open, and Yesterday's market (circled in blue, top right of chart) is at the make or break point for the bear market bull run continuation. This price level is the 100% retracement for Wave 2 and cannot be broken for this bearish Elliott Wave count to be held true. This means that the next day or two will let analysts like myself know a little more in regards to possible future price direction.

My questions as a "regular" and logical person are, "Why would the market decline this hard even after the 2000 and 2008 large declines? Why couldn't the market hold it's own if everything is 'ok' in the United States(EU no excuse)? If the stock market ALWAYS goes back up, then why hasn't the working public made any decent returns on their portfolio since 2000? Lastly, common sense and logic says that nothing can go up forever, so wouldn't there naturally be times when the market declines farther and for a longer period of time?"

The answer: It's because the U.S. is NOT OK, and we are in the midst of a larger overall decline within the global market. Evaporation of Wealth on a Vast Scale

The Elliott Wave Principle was popularized by Robert Prechter and has made some astounding market timing calls throughout his years. I believe very highly in this one of a kind, totally objective market analysis tool. The Elliott Wave Principle has the ability to forecast short and long term market moves. This is not to be thought as a sure thing because there is nothing of the sort. However, the Elliott Wave Principle (in combination with proper risk management, Fibonacci, and trend lines) gives traders/investors a large edge exceeding any prior technical analysis that I have studied as a stand alone indicator or any variations thereof. Here's some additional evidence... What Are the BEST Technical Indicators for Successful Trading?

Take a read and get the Elliott Wave International FREE account which can be found through the links or at the banner on top and the articles on the left of this page. It's very much so worth the time to learn about this amazing form of study. Many will look, but few will actually realize what is in front of them, Which type of person are you?... The Top 10 Market Myths Exposed

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