Wednesday, January 11, 2012
Dow Jones Industrial Under Pressure?
The long term wave count over the past year has been quite difficult to gauge. However, with the simplest technical indicator, one can see the power of trend line resistance. This is also in correlation with the probable end of wave 2 up. This is where the Elliott Wave Principle really helps to identify TURNING POINTS in the marketplace. It is said that one as a trader or investor should not attempt to pick tops and bottoms, and this is true if one has little knowledge about the Elliott Wave Principle.
Not Me or You
As I was saying, we as retail investors/traders are not supposed to be the one's to pick the market tops and bottoms. This misinformation is what I have been led to believe a good portion of my life. I did not want to settle for that information as a fact.
I knew that there were a vast amount of people ("Big Money Players") trading stocks, so I knew somebody had to know how to identify potential tops and bottoms! This was so important to me because I knew this is where the BIG MONEY was made or at least could be made.
Then came along my study of the Elliott Wave Principle. This form of analysis alone will give one the ability to plan for known hard times such as Economic recessions and Depressions. The Elliott Wave analysis calculates the ever-changing social mood of the masses. I highly recommend that everyone visits the Elliott Wave International site. It can be found at the top of the page, and they are the ultimate resource for everything Elliott Wave; I love and use all of the FREE resources that they have to offer.