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Rajesh:
I have followed the Elliott posts from your mentor with keen interests. Keep
them coming.
I have two questions for consideration by your mentor or any lurkers:
1. How do the post / analysis compare to counts one might obtain with Advanced
Get or other such wave analysis programs?
2. How does he rationalize the possible move to exceed 9367 on the DJIA in
light of the continuing deterioration of economies world wide? And, is there a
possible Elliott Wave analysis that would predict a collapse to below 7400?
Other technical analysts such as Jerry Favor have predicted possible major
declines should the DJIA not penetrate recent highs. Prudence suggests an
Elliott analysis to the down side so as to be prepared for that possibility.
Thanks and regards,
Jim Barone
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