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Mr. Widget Makes the Call


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That widget does seem to be doing one hell of a job. Is it easy to set up those cycle lines or is that your proprietary stuff?

 

It's easy if you have read Hurst, and have an understanding of the logic behind it. Technical indicators are now many generations beyond Hurst, but his theories are still the basis for how I construct the indicators. Of course I've been tinkering with computer TA since 1982, so what seems easy to me might take a while for you newbies. :lol:

 

I'm always looking for better ways of expressing the cycles. The big disadvantage that I suffer is that I am NOT a math head. I have to use constant trial and error, and intuitive feeling to try and figure out what works. For you engineers who understand and can write equations, constructing your own indicators should be a piece of cake.

 

I have to admit. I am VERY impressed with the tool freestockcharts.com gives you to work with these things, and so much more in terms of screens fartpolios etc. Kudos to them. I've actually canceled my eSignal because of it.

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Question to Elliott Wavers, followers of McHuge, or anyone else -

 

Disclaimer: I do not have any depth of understanding of Elliott Wave principles, counting, or how to write cycles in the Elliott Wave hierarchy format.

 

Reading several market commentators (including those on the board), it seems to me that we may be in some final sub wave up of a major up wave count sub-cycle (and E up before the end of a C down perhaps) and that we may be going into the next cycle count that is supposed to be a humdinger of an extended drop.

 

Does this mean that the recent Friday low in the SPU is the place to place all bets (short) on the table and walk away (head for the bunkers)?

 

If anyone understands what I am crudely asking, is there a clear Elliott Wave condition that would indicate that we are then in the big C wave down, or that the "E" wave up have failed?

 

Thanks.

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I have Windows XP. Do I need MSFT Silverlight to get the Widget? Or what? Would it be at the top of each page if I got it?

 

Yes, just click the button and do the install. Takes less than a minute. If it causes problems you can uninstall it from your control panel.

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Patents, can you illustrate your question with a chart?

 

I'm not an EWave expert....I do a sort of trailer trash, Hamburger Helper version of EWaves....but, I'll take a swing....

 

Thanks, Phat and Doc both, for explaining on IDS and here how to get the famous widget.

 

Cap

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Patents, can you illustrate your question with a chart?

 

I'm not an EWave expert....I do a sort of trailer trash, Hamburger Helper version of EWaves....but, I'll take a swing....

I have not a clue how to put the Elliott Wave count on a chart and the only one that comes to mind is from McHuge and I do not want to get into trouble copying one of his charts. I recall seeing a similar chart on the Stool (day/night) about a week ago. I will look for that.

 

I have also read that Prechter's wave count is similar to McHuge, which is odd; so, it seems that this same Elliott Wave issue just keeps popping up in what I am reading.

 

I just copied the following from McHuge's public page: "There is a dangerous pattern finishing in the NDX. We are tracking that closely every day, as it is the type of pattern that often warns of coming plunges. It is time to prepare for catatrophic wave © down."

 

http://www.technicalindicatorindex.com/

 

I feel like I am flailing around with this, but that it may be important. Sorry.

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We appear ripe for a ST bounce here, but the move down from 1080 sorta looks like an unfinished impulsive wave, with the larger IT move having finished at 1080.

 

Door #2 is that we just completed wave 4 of 5 waves off the July low at 870, with a final push coming (maybe to a double top at the top of the BB) to mark the end of wave 5.

 

Either scenario theoretically would finish the larger ABC corrective off the March low.

 

Where's Pretzl at anyway?

 

10&comp=NO_SYMBOL_CHOSEN&nosettings=1&rand=8112&mocktick=1

 

This is one comment that resonated with me. I take DOOR #2 please!

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If it's a publicly available (i.e. non paid subscriber) chart, you should be ok with the fair use stuff we all do here. Snippet & link etc.

 

Anyway I went to McHuge's site. Good God Almighty. Bold! Italics! Both, Underlined! And in all manner of colors. I almost had a seizure.

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This is one comment that resonated with me. I take DOOR #2 please!

OK lemme mark up a YTD chart. Been meaning to do that for a while. Plus I have some work that I'm avoiding doing tonight.

 

First, here's the count I posted in March. At the time I suspected the March low had finished the A of an ABC down from the Oct 07 top.

 

That A would be followed by a corrective B wave up (this rally that may or may not have ended), which would then be followed by a C wave down to a lower low.

 

I don't know if that's the C wave McHuge is talking about, but for both EWave and a number of other reasons, I've been half expecting the next wave down to correspond with other geopolitical & currency events that could make autumn 08 look like a breeze. Hopefully not, but anyway.

 

I'll mark up another updated chart with a couple potential counts and post shortly.

post-928-1254864644_thumb.png

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The Insanity Train- Repeat, Repeat, Repeat – Professional Edition

by Lee Adler, Tuesday, October 6, 2009, in Long Term Outlook, Professional Edition, Today's Markets | Permalink |Comments (0) Edit There was again very little change in the long term structures over the past month. The object of the game would appear to be figuring out how beat the crowd off the insanity train just before the end of the line. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

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OK. Here are two scenarios.

 

1. (bearish, in red)

 

My primary count is that we're finishing up the B wave of the ABC down from the Oct 07 top, and that this B wave has taken the shape of a 7-wave double zigzag (ABCXABC in classic Elliott or WXY in modern Elliott).

 

If B has topped at 1080, this pretty much suggests we've passed through the eye of the storm with this B wave rally, and have hit the eyewall on the far side, and an ugly bear market is about to resume. My first downside target for [1] of C would be 820 (61.8% rally retrace).

 

Door #2 from my post yesterday suggested that B wasn't quite done here, because what would be wave (1) down from 1080 to 1020 didn't look impulsive. So maybe we're in the last leg up. We could run as high as 1160 (in which case W=Y) in the next couple weeks and I'd still regard this count as in play.

 

Either way, the one thing I don't like about this count is the corny element of a major move ending Really Soon, Maybe This Week! To be followed by a Big Decline! Punk newsletter vendors always want their charts to show something of Great Import about to happen.

 

Of course, sometimes it's actually true.

 

2. (bullish, in blue)

 

If we go higher than 1080 from here, and the subsequent decline stays above 955, I'd say that either my count is wrong and B is going higher than anyone expected before the secular bear resumes, or what I've been calling the wave B off the March lows is actually wave 1, a traditional 5-wave impulsive, which could even mean that the bear market price low was in March.

 

So......that's what I got.

post-928-1254872877_thumb.png

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Phat (may I call you that ;) )-

 

Thanks kindly for your work and doing what you said (a rare quality these days).

 

So back to my original question of this evening, if we break Friday's low in the next X number of days, does that mean that we have "by definition" entered your C wave down sub-cycle? The red line on your chart would seem to indicate that to me. Would that be consistent with your EWave interpretation?

 

I have other indicators and stock and non-stock systems that would be consistent with that approach, and I am just trying to see if that would be yet another of the "end times" type of indicators. With gold's action and the dollar's action these are just some of the too many things making me anxious this month.

 

And I will not even go into discussing McHuge's Hindenberg Omen required indicator for a crash, which means I do not trust everything that he says.

 

Again, thanks.

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