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I'm not an Elliot wave practitioner, but I can tell you that the wave count
depends entirely on your perspective. First, are you looking at yearly,
monthly, weekly, daily, or intraday charts. Second, I can tell you that the
wave count depends entirely on the subjective decision making of the user.
For example, on the SPX daily chart it is possible to start the counts at
two different relatively recent bottoms. Which is the right one? Only time
will tell. Obviously, that is not much help to you as a trader or investor.
Therein lies the problem with Elliot Wave--it is not rigorous enough.
Brian
-----Original Message-----
From: Joe Frabosilio <joe6964@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, March 15, 1998 9:44 PM
Subject: GEN: Help Elliott Wave Prin.
>Hello everyone,
>
>I'm reading the Elliott Wave Principle by Frost and Prechter and I would
>like to know if someone could tell me what wave we are in with according
>with the S&P or send a chart.
>
>Thanks,.
>Joe Frabosilio
>
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