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« Ground Hog Market will Go Deeper into Hole | Main | Timing of the Bottom »

Thursday, February 26, 2009


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Canadian Money

The SP500 sideways move from early October 2008 to very early January 2009 looks like a large irregular correction (Elliott's term). If so...great weakness to follow. The subsequent possible downward moving impulse wave since that time contains flat corrections. Also a sign of continued weakness. This all fits together nicely.

That may have been the "Obama Rally" people were hoping for.

Still betting on lower lows.



Given that Neely is expecting a big drop, wouldn't it be very ironic of Prechter, who's been one of the bigger advocates for the bear side for so long, were to miss it?


Prechter's trading advice is lousy. Neely's has been better lately but ain't so hot either. Yelnick wrote

"Prechter gave notice two days before the Jul07 S&P market peak (the Dow not the S&P made a slightly higher peak on Oct07) that it as time to short, and we have fallen 800 S&P pts in 19 months. He was recommending buying the Sep07 futures, so he really called this about on the nose."

Prechter's made a thousand sh*t calls. The laws of probability apply to him so he's entitled to good calls, too. But there's no reliable method here. I think Prechter makes money marketing, not trading.


It appears that w3 of 5 is almost complete at ES 730 (pre-open 08:37).
Currently (09:21) price (734) is working on v of (v) of w3 of 5.

w4 and w5 of 5 are next (If w3 is not going to extend).

Preliminary estimates:
w4 targets in the area of 785~795

w5 targets
a) in the area of 690 - shallow target (probably by means of ending diagonal)
b) in the area of 650 - deep target.



The Dude

The Obama Rally is all based upon "Hope" and we all know that bear markets slide down a slope of hope. -2000 Dow pts since his election.

The Dude

ian palamo

If anyone have "NEELY RIVER trading technology" trial, can you kindly send me info.

[email protected]

This is from an e-mail sent in 2007:

For nearly two years, I've paid a German programmer to code my unique, Neely River technology into TradeStation. If you have already taken my private trading classes, you will be fully prepared for immediate use of this highly effective technology. If you have not taken my private trading class, just a couple of weeks of orientation is all that is required to take full advantage of this powerful trading tool.

I've decided to let everyone try my Neely River Trading program for FREE until the end of July. A direction manual is included to help you install the program and set up the workspaces for immediate market analysis.

To download the program, click or copy the link at the bottom of this email. If you decide to continue using the program beyond the end of July, the cost is $2000/year.

Glenn Neely
NEoWave, Inc.


"Prechter gave notice two days before the Jul07 S&P market peak (the Dow not the S&P made a slightly higher peak on Oct07) that it as time to short, and we have fallen 800 S&P pts in 19 months."

Come on. Pretchter was calling for a top months ago. Once in a time you are right, but with this post it looks like if he is a very good market timer. But he is awful.

Hank Wernicki

All Market Publishers should Post a Spreasheet on their recommendations and trading positions within their web site to add clarity for the investing public.

Very few ( if any ) will risk doing this. Why ?

My trades are always public ....


Hank Wernicki

March 23rd Market Wavelet Low <<<<<<<<<<<<<<<<


If I look at weekly close for djia, I believe we are in wave 3 of wave 5 of wave 3, It channels beautifully, with targets on weekly close of about 58-5900 until march 13 which is a wednesday. Of course intraday could be much lower, so I am defenitely in the dj 4600 camp til mid march. From there wave 4 sideways action until the end of the summer, and then from there wave 5 down to an ultimate low.

ewi have called tops so many times, that eventually one of their dates come close.

Al from Oz

You mean the rally to the down side dont you Duncan?

Just being cheeky.

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