Testing the Line of No Return

Neely expects the largest decline since January to begin shortly.  The STU expects a short decline only, then a resumption of the countertrend move.  The major indicies have stalled at a 38% retrace, so a down then up is not required under the STU wave count, but Hochberg fails to see the right 'look' in the wave structure, primarily due to time relationships.  It takes until May to 'look' right.  In the meantime the triangle in the Dollar/Euro continues, and probably needs to end before we get the next big move in equities.   

Comments

[Rogue Poster]

Steve is really hung up on the "right look" concept. One shouldn't be married to one's technical analysis whether it's EWT or any form of TA. Let the market talk to YOU; don't waste energy talking to the market telling it how it's SUPPOSED to look. You really want to argue with stochastics, MACD, and half a dozen other technical indicators? Phew. Case in point, cycles in this bear market have been routinely left-shifted in time so that they complete early. I don't know why the current cycle should be any differnet. You got your Fib .38 retracement. What more do you want? Steve is persisting in this right look argument like a dog gnawing on a bone.

[moom]

Very bullish news :0)

[Rogue Poster]

You know I really don't give a rats ass if the market goes up or down. I want to be a successful trader. Period. And from what I can see, and no one on this blog has convinced me otherwise, the bulls are mistaken and they are on the wrong side of this trade. Here's a man who put his balls on the chopping block a few days ago and so far has turned out to be right. Sometimes you have to go against the herd. And no more so than when it's stampeding towards a cliff. Good luck to you all.

http://www.youtube.com/watch?v=wfD0h4O3Ero

[Rogue Poster]

Oh and BTW, I never saw any of the chickenshit Elliot Wave Theorists do that. Ever. They give 3, 4, 5 scenarios so that no matter how it turns out they can come back a few days later and say "see we told you so" or "we warned you" and hope you keep giving them your money. What horseshit. Do you really want to give your money to cowards who are afraid, or so uncertain, that they can't even take a position? Better to die on your feet than live on your knees.

[TObject]

Hey Rogue Poster, did that Oscar guy just showed us the finger? :)

[TObject]

That was funny! Oscar guy went back to October and August screaming "It worked here!" hehe. Stupid but energetic :)

[Eventhorizon]

What a laugh - the waves don't look right for STU?

Somehow they didn't have this problem back in July-August of last year, clinging to the idea that decline was five waves until the new highs in October.

[Upstart]

This should be the return to uptrend that I mentioned Tuesday afternoon in the last topic.

[besttrader]

SELL IN MAY AND GO AWAY (MAYBE THIS TIME LAST TWO WEEKS OF APRIL)

[aa]

re: the dollar

"investors" are waiting for the other shoe to drop but it's not wearing any shoes.

[Voice of Reason]

Whenever I see someone's head explode like Rogue Poster, I know that we can expect a turn.

It seems to me that Rogue's emotions are making him/her completely subjective.

How much have you lost recently, Rogue? Hurts, eh?

[TObject]

TonyC is bearish on oil
http://yorbatv.ning.com/profiles/blog/show?id=2014856%3ABlogPost%3A2726
http://yorbatv.ning.com/profiles/blog/show?id=2014856%3ABlogPost%3A2727

[PERCY]

The only thing EWT staff does well is sell books and letters. No wonder Prechter took the vail in 87.