Written by Glenn Neely
Author of Mastering Elliott Wave, Financial Forecaster & Trading Advisor
Founder of NEoWave Inc.
Everyone said I was OUT OF MY MIND.
In 1988, stock market bearishness was so extreme it was palpable! Late summer of that year, I stood alone in the Elliott Wave world and proclaimed the 1987 "stock market crash low" would NEVER be broken for the REST OF MY LIFE! (see chart below). Then, in an article, written around the same time, I projected the Dow Jones Industrial Average would exceed 100,000 by the year 2060. (At the time, the Dow was at 1,900.) The attacks on me were vicious and continuous (and this was before the internet).
My forecast was considered SO PREPOSTEROUS that even Paul Tudor Jones's right-hand man (at the time), Peter Boris, took me aside at a meeting with the Foundation for the Study of Cycles and asked me to "please stop making such ridiculous market calls -- it was damaging the reputation of Elliott Wave."
The second chart (see below) shows my bullish call last November 2022 when the stock market was bottoming. AGAIN, there were lots of Elliott Wave "experts" calling me crazy and telling me a "grand super cycle stock market crash" was underway!
HOW AM I ABLE TO MAKE SUCH PROFOUND & CONFIDENT MARKET CALLS? It has to do with the additional rules, concepts, and patterns I've ADDED to orthodox Elliott Wave principal to create what I call NEOWAVE (advanced Elliott Wave).
NEOWAVE is BETTER than Elliott Wave. It may take more time to learn and require more effort to apply, but the accuracy is greater and the rewards are greater.
If you want to dramatically IMPROVE your Wave Forecasting skills, take my ADVANCED WAVE ANALYSIS course. Learn about the 12-week LIVE online course at: https://www.neowave.com/AWA-COURSE
Released Sunday, November 6, 2022
Released by Glenn Neely on Sunday, November 6, 2022.
NEoWave FORECASTING on S&P 500
(from black arrow)
The firest green box measures the price of wave-a and the combined times of a & b. The seond green box is 61.8% of wave-a's price and half the total time of waves-a & b. IF a contracting Triangle is forming, wave-c will end soon above the low made in October.
NEoWave Analysis - WEEKLY Structure
As long as October's low is not broken, this contracting Triangle will remain our best choice. If correct, this bear market (unfolding all year) will end by or before late January. Afterward, a strong rally to all-time new highs will occur into mid or late 2023. On the other hand, if this October's low in broken, a final "scary, news driven" price collapse will take place into early 2023, which will then be followed a major advance.
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