Here's an updated chart of the bullish Elliot Wave View that was
posted on Sept 28th. So far the drawn projection to the end
of year has played out, now whether that is wave 1 or not who
knows, but that would be the ultra bullish view.. It would
have a pullback coming very soon for a wave 2, but then after that
the bears would be crying.
Otherwise who knows, but my long term picture remains the same,
the market entered into a secular bear market in 2000 and is 10
years into it. Typically Secular markets last 15 - 18 years
or so, this means that the current secular bear won't be over for
many years yet.
The current rally from 2009 lows is a cyclical bull market
inside the long term secular bear, not a secular bull market.
Therefore I still see Trading as the way to make money for at
least the next 5 years. The time to buy and hold is in a
secular bull market. Secular Bear markets are for trading
I could be wrong but that's my best guess
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Here's an updated chart of
Elliot Wave Bull - they are not all bearish
Posted by matt on 13th of Dec 2010 at 10:59 pm
Here's an updated chart of the bullish Elliot Wave View that was posted on Sept 28th. So far the drawn projection to the end of year has played out, now whether that is wave 1 or not who knows, but that would be the ultra bullish view.. It would have a pullback coming very soon for a wave 2, but then after that the bears would be crying.
http://breakpointtrades.com/blog/post/125042/
Otherwise who knows, but my long term picture remains the same, the market entered into a secular bear market in 2000 and is 10 years into it. Typically Secular markets last 15 - 18 years or so, this means that the current secular bear won't be over for many years yet.
The current rally from 2009 lows is a cyclical bull market inside the long term secular bear, not a secular bull market. Therefore I still see Trading as the way to make money for at least the next 5 years. The time to buy and hold is in a secular bull market. Secular Bear markets are for trading
I could be wrong but that's my best guess