Buy a Trial Subscription and get ALL NEoWave Trading and Forecasting services for 2 weeks for only $39.
This will instantly give you access to the SEARCH function for our extensive Questions & Answers Library.
Question of the Week: 3/18/2009
Is it just me or are markets spending the majority of their time correcting lately? Also, many thanks for providing such enhancements to Elliott's work.
Answer:
You are absolutely correct, Justin. When a market's larger trend (say of 2 or 3 degrees higher) is impulsive, all smaller time frames will exhibit impulsive behavior more often. When the larger trend begins a consolidation or bear market, corrective patterns will dominate the behavior of all smaller time frames.
For the above reason, the mid and late 90's (when most stock markets were in bull phases) exhibited impulsive activity on many time frames. Following the high in 2000, when U.S. stock averages began their 15-20 year consolidations (i.e., bear markets), the number and complexity of corrective patterns "exploded." As a result, you are hard pressed to find any impulsive activity after September 2000 (the start of the bear market in the S&P 500).
At specific times each week, Glenn Neely is available to answer questions, provide guidance, and offer individualized advice. This is an opportunity to speak directly with Mr. Neely to address your unique situation, advance your understanding of markets, and hone your trading and forecasting skills.
Cost is $20/minute, with a 10-minute minimum ($200 minimum charge). Your credit card will be charged after the call.
To schedule a consultation, please click on the "Request a Consultation" button below and fill out the Contact form. Our Sales Manager, Magelan Ferreira, will respond to your request to arrange a consult with Mr. Neely.