Value of Perfect Information

Here is the post I published to my subscribers at the EOD on 16Nov.

The chart below shows how we did with the projected path of ES. The projected path is depicted with the red translucent arrows. Two things are of particular interest in the market’s action. First, it is noted that Wave C down demonstrated an ending diagonal pattern. ED’s often fail to make a target level as much of their correction is done horizontally rather than vertically. This W4 missed our target by 3 ticks. Secondly, the expected Wave 5 turned out to be a failed W5. By being correct on the direction of the market, I had some great trades as I sold the rallies in Wave C, and bought the dips in W5. That is the edge that EW analysis can give your trading.

My Most Recent Post on My Premium Site: This weekend’s post has my outlook for the near-term, and the rest of 2009. The subscription fee is $50 per month, and can be canceled after 1 month if it is not meeting your expectations and needs.

Categories: Charts ,Commentary ,Elliott Wave ,Markets

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