$DJI - Happy Birthday Ralph !!! Short

Dow Jones Industrial Average IndexDJ

Description

⋅ Jul 28, 2014 7:11 AM

...143 years ago - on July 28, in Marysville / Kansas / was born Ralph Nelson Elliott - author, creator, discoverer 'Wave Principle" - main theory in the field of technical analysis. Genius. The man who to this day constantly to amaze the world.
knowledgebase.mta.org/?fuseaction=kb.resource&kbDomainID=BDA870A8-CF1C-2465-1FE10C6186345CA5&kbResourceID=13C3A11D-F6C9-9E9D-DBB6B724D1DB22B9

The chart above - this is my version of American history and attempt to reconcile the Elliott Wave Principle and Fibonacci Extensions with the graph.

In short - IMO: after a full cycle, on the markets always are created combinations of corrective - Double or Triple Three.

elliottwave.net/educational/basictenets/basics3.htm

Comments

marti_marti

⋅ Jul 28, 2014 10:57 AM

Nice idea ... followed by S&P
tradingview.com/v/HmVvAmi4/

on Friday there was some proposal :

which has occured to be correct :

more should follow now.

hehe

⋅ Jul 28, 2014 11:49 AM

Grax amigo!

jose.vidaes

⋅ Jul 28, 2014 7:36 AM

I JOIN THE CARDS

hehe

⋅ Jul 28, 2014 8:08 AM

;)

elp

⋅ Jul 28, 2014 7:28 AM

Very well possible your set up happens. However, looking left of the chart if price has broke out of its multi year consolidation like previous times, then price might not trade back to 2009 lows, more like 2000 and 2008 highs.

hehe

⋅ Jul 28, 2014 8:08 AM

of course.

hehe

⋅ Jul 28, 2014 7:24 AM

Supplement No. 1 SPX: