Tuesday, August 8, 2017

EWI's dollar model 2008-2015

Bob Prechter over at Elliott Wave international is the godfather of modern Elliott wave modeling.  He essentially resurrected Ralph N. Elliott's work and made people in the 21st century aware of it.  Well, some people at least.  If it weren't for Prechter, Elliott's work might never have been rediscovered.  EWI has a publication call the Elliott Wave Theorist that I have subscribed to from time to time (but not at present).  The charts below were taken from the Elliott Wave Theorist of December 2015.  The zoomed out chart on the left has an arrow at almost the exact bottom of the dollar in 2008 when Prechter said his model indicated the bottom was in.  He also called 2011 inclining double bottom and then modeled a top to occur somewhere over 100 as shown in the zoom in on the right.

Current actual is below in which I notified my subscribers at nearly the exact top that the odds supported a rapid reversal.  You cannot get accurate results like this without some kind of systematic approach.  By all rights the dollar should have been tanking in 2008 when Bernanke flooded the markets with helicopter money to the tune of well over $3 trillion in Quantitative Easing (AKA money printing).  There are many fundamentals that can move the markets so it is very easy to get caught wrong footed when trying to trade on fundamentals alone.

Prechter's service is worthwhile albeit not very timely.  His Elliott Wave Theorist publication comes out only once per month for about 7-10 pages of information and observations.  By comparison, I post 4-8 charts per day, 6 days a week covering a wide range of markets all for only $39.95/month.  If you want to share in this kind of uncommon market insight I invite you to try my subscription service for 1 month for just $19.95 which is half the normal subscription price.  If you do any trading at all, this service is well worth your while.  Give it a try and see what you have been missing.  If Interested then send email to captaincharts@gmail.com with 1 Month $19.95 trial in the subject line and I will send you a link to make a 1 time paypal payment to activate your one month full access trial.  Offer limited to one cost reduced trial per email IP address.

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