Should you follow the news for use in market timing? [AZO]

Back in September of 2016 I provided a model that called for a major top in Auto Zone [ticker:AZO] shares.  At the time, great earnings had just been reported but I was clear in my post that my Elliott wave model indicated a pullback was the next most likely thing to happen and I provided the predictive model below to show what I thought was coming.  It clearly predicted a likely move back down into the $500s.



Current actual is below.  After so many times of predicting seemingly impossible things, how can there be any doubt remaining that the Elliott wave principle, in the hands of an experienced analyst, is an excellent predictive market timing tool and in fact probably the best tool in use for this purpose today.  I can tell you that when I penned that September post there was nothing except positive sentiment in the market for Autozone shares.  But that did not stop the shares from rapidly shedding 30% of their value starting just a few months after my post.

Elliott waves.  Use them or get used by those of us who use them.