Elliott Wave 5.0 "Reboot"

Sunday, February 2, 2014

Comment on Robert Prechter's: Stocks headed for a 2-3 year decline? | Fox Business Video


In this video he is clearly bearish in his comments and expects a 2-3 year grinding decline below 2009 price levels in the DJIA.  My bet is that he is going to be wrong, and he will miss another surprise bull market counting in GSC degree!

Will 2014 end Wall Street's party? | Fox News Video

I thought I would add this chart to show what can happen when we accept consensus forecasting. The "C" wave crash is the most popular wave count out today. Every Elliott Wave counting expert will be looking and counting the big "C" wave down.   My "B" wave top has been dumped or removed and pushed into the future, and in this process I extend my wave counts. GSC degree has never been extended, and I have already tried this wave count many times . It will not fit as I think we are too early. 

Grand Supercycle degree wave counters "desperately need" 5 waves down in Primary degree. Since 2007 the GSC degree wave counters have refused to review their wave counts, and they are going to try the "easy" wave count again. 

In Prechter's interview he shows no confidence in his wave count, expects 5 waves and no bottom until after the 2009 lows! All the SC or GSC followers are going to be left out of another potential massive counter rally, as they will be unprepared to take advantage of it. 
When the time comes I am sure the contrarians will be betting against the popular wave counts again.