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Carlos,
Two points. Since the Dow chart and S&P charts are almost identical,
I am puzzled how you can only put wave counts on one and not the
other.
Secondly, my full time job is to study the Australian All Ordinaries
Index and Share Price Index futures. I have been doing it FT for 11
years. Elliot wave theory has been my primary predicting tool. For
the life of me I dont know how anyone puts wave counts on the Dow that
are accurate and remain largely unchanged over time. I know of NO ONE
who can claim this. What I have found on my local market though is
totally different. Probably because I follow it so closely, I have
found my wave counts are more accurate and rarely ever need changing
once they are put in place. My bi-weekly report over the last 12
months has had what I consider to be only one error. Therefore I have
to disagree with your statement. My printed track recod shows I have
not been deluding myself.
Also, my conclusion is that following a market religiously and
applying the RIGHT rules, one will find Elliott Wave theory is far
more applicable than if someone tried to slap a count on 20 different
charts each day.
Adrian Pitt
>I've studied/used Elliott Wave for some 12 years now.
>
>The only place I can count the waves with any accuracy is on the Dow Jones.
>Have tried reading waves on most indexes and other futures/commodities but
>the count just isn't there! I think most people who claim to use Elliott,
>really use it in a way that's basically useful only for setting stops.
>
>Other than that I would say that anyone who claims to be able to count
>waves on charts other than the Dow is delluding him/herself.
>
>That's my opinion and I'd like to hear from anybody else out there using
>Elliott Wave.
>
>Carlos Lourenco
>lourenco@xxxxxxxxxxx
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