The SPX GET chart you posted at 2.24 suggested today was wave 4
down, now the SPY chart you post suggests a totally different kind
of count altogether. I am confused, a little explanation
please!
I want to know which Peridot feels has better validity since I
am assuming he knows how the interpret the results after using that
system for a while now. No?
Well first off, p is a she. LOL. Okay, Junkie nailed
it. The 60 minute chart reflects the shorter term just as
Matt and Steve's charts do. A daily is a longer term
projection. GET also provides weekly and monthly counts but
normally I wouldn't throw those up here on the blog. For
everyone that's a new member or is a little confused about what GET
is: ETrade provides a platform for a subscriber fee that
automatically counts "Elliott Waves". The counts are subject
to change (again just like sometimes do on the charts
that Matt and Steve prepare) because price as it unfolds may alter
the count. Elliott Wave is based on a set of principles that
reflect the waves (patterns) naturally unfolding. It is not a
crystal ball but once a pattern emerges and the count is presenting
itself to be strong and true, then the alternate count becomes less
important in consideration as a possibility. Many times you
will see the bull and bear pictures both presented here a
Breakpoint. The yen and yang is also presented by GET and it
will alter these counts as price dictates the stronger
"pattern". Hope that helps. To learn more about Elliott
Waves, Google that term up or go visit Elliott Wave
International. All the best, p.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
ok so which is it?
SPY EOD 02232010
Posted by perthx on 23rd of Feb 2010 at 04:09 pm
The SPX GET chart you posted at 2.24 suggested today was wave 4 down, now the SPY chart you post suggests a totally different kind of count altogether. I am confused, a little explanation please!
Daily versus 60-minute charts. Intermediate-term
Posted by junkie on 23rd of Feb 2010 at 04:15 pm
Daily versus 60-minute charts. Intermediate-term versus short-term. Thanks for both, Peridot!
I saw the differences...
Posted by perthx on 23rd of Feb 2010 at 04:19 pm
I want to know which Peridot feels has better validity since I am assuming he knows how the interpret the results after using that system for a while now. No?
Well first off, p is
Posted by Peridot on 23rd of Feb 2010 at 06:04 pm
Well first off, p is a she. LOL. Okay, Junkie nailed it. The 60 minute chart reflects the shorter term just as Matt and Steve's charts do. A daily is a longer term projection. GET also provides weekly and monthly counts but normally I wouldn't throw those up here on the blog. For everyone that's a new member or is a little confused about what GET is: ETrade provides a platform for a subscriber fee that automatically counts "Elliott Waves". The counts are subject to change (again just like sometimes do on the charts that Matt and Steve prepare) because price as it unfolds may alter the count. Elliott Wave is based on a set of principles that reflect the waves (patterns) naturally unfolding. It is not a crystal ball but once a pattern emerges and the count is presenting itself to be strong and true, then the alternate count becomes less important in consideration as a possibility. Many times you will see the bull and bear pictures both presented here a Breakpoint. The yen and yang is also presented by GET and it will alter these counts as price dictates the stronger "pattern". Hope that helps. To learn more about Elliott Waves, Google that term up or go visit Elliott Wave International. All the best, p.