back to blog homepage

Elliott Wave Theory?

OK, maybe I'll start to take Elliott Wave Theory seriously.

If you read my earlier post from last night, you saw that I made a comment about Elliott Wave analysis showing that today is a pivotal day in those charts predicting a 2,000 point loss in the Dow.

I've never been a believer in Elliott Wave Theory, treating it like Sarah Palin treats global warming. But, it correctly forecast the downturn that started in September and it pointed to today as a key day.

Following the analysis, it shows we have the big capitulation day today followed by a rally within a couple of days that lasts until November 20th at which there is another key turn date.

Right now, the S&P Futures are shut down-limit and there is no pre-market trading. This should lead to a BIG drop at the open.

Hang in there…

Mark