Stock and Currency Commentary and Charts Utilizing Refined Elliott Trader Software
Color Scheme of the Charts to Differentiate the Various Wave Degrees is: { Supercycle / Cycle / Primary / Intermediate / Minor}
{By clicking on any chart, it will enlarge for ease of viewing. Commentary at the top of each chart is more easily read, also.}
Tuesday, October 29, 2013
Nasdaq 100 inches closer to a top!
Interpretation is a little bit tricky (appropriately so for this time of year) but not so much so to spook me away from posting an interpretation of the current price action. Black lines connect the waves as I drilled down to closer time frames, while blue line reflects my predicted price movement including best guess for a wave V high.
Welcome to this free site that provides state of the art analysis of currency pairs and stock indices by utilizing Elliott Wave Principle through sophisticated pattern recognition software. After scanning millions of data points the software is able to compare how these data points match up with past Elliott Wave patterns and determine which pattern is the most likely to be the present pattern. A rating system for each pattern alerts me as to the degree of accuracy, and hence the trustworthiness of the proposed optimal interpretation of the data. A system of synchronization between the longer term chart pattern, the intermediate term, and finally the shorter term are utilized to drill down optimal entry points to each recommendation. When that time is near, entry price, stop loss price, and the "first third of position" target price are included for error-proof execution of trades. Once a trade is on, trade management is provided as well.
Owner of Medallion Financial Consulting. 1984 graduate of Brown University with B.A. in Economics. 26 years of Financial Planning & Investing experience.
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