no way, I post the 5 min SPX here all the time, 100's of charts, and it's very clear when it's had a 3rd wave move and is consolidating into a 4th wave with another move higher coming.  You see it well before the 5th wave move develops.  

again you guys just don't know how to use it, it's that simple, don't bash it, I find it very useful on short term frames, even trading futures on Tick charts.  now I only use it if it's clear and to me the MACD is very helpful because 5th waves always have divergence, that's how you can tell.  where people run into trouble is when they only use it, however I have found it works if you use it only when it's clear and always in conjunction with other analysis like trendlines and MACD, etc

let's get off this subject, post something useful instead of bash bash

I think there must be a 1000 posts on BPT bashing EW, we don't need any more, it's been covered