Weekend Aug 11, 2024
I was listening to Kevine Hassett yesterday on WSJ Editorial Report. Hassett is good, he wrote the book predicting Dow 36,000 and by golly it made it.
He was an economic adviser to Trumpo. His view is that we are headed back to the 1970s, lots of inflation, high interest rates, stagnant stock market. I agree.
But it became clear he reallydid not have any sort of a system of economic prediction. Rather he was awaiting the next jobs report to confirm the economy was turning down.
Ralph Elliott formed a theory of human behavior that is reflected in social activity. Social activity ranges from the stock market to music to cinema to politics you name it.
While one can criticize any system or model at least this is a model of behavior. That beats just randomly tying market action to some external event, which is what the media does every day.
This three step forward two steps back defines human behavior and provides a basis for decision making
From EWI
Her is a three part video course.
From stockcharts.com
https://chartschool.stockcharts.com/table-of-contents/market-analysis/elliott-wave-analysis-articles/identifying-elliott-wave-patterns
https://chartschool.stockcharts.com/table-of-contents/market-analysis/elliott-wave-analysis-articles
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