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Glenn Nealy was on the local LA business channel yesterday (Thurs.)
1. He gave a 70% probability of a 10 -15% stock correction over the
next few months, starting yesterday. He's expecting approx. 850 on
the S&P. He said a close above the Wed. highs would invalidate the
forecast.
2. He said bonds would experience a deeper and longer correction.
3. Gold to experience an uptrend, after a potential near term retest
of the lows. Regardless of the retest, uptrend is still expected.
OK you wave counters. Anyone else see a similar count? Although
Nealy's Neowave method is slightly different from traditional Eliot
wave analysis, he and Don Wallenchuck have been the only "big name"
general public Eliot wave advisors to be accurately long through this
bull market.
RT's:
1. Any opinions on Glenn's methods or record?
2. Anyone else willing to agree or disagree with this prediction?
Ross
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