The Elliott Wave Chart Blog has been providing
Online Forecasts of the US Stock Market since 1997.
Free Dow Jones Industrial Average Buy/Sell Signals
IMPORTANT: Chart buy/sell signals are helpful in determining market support and resistance levels...and probable turning points. However, they are only useful if the analyst has a handle on the larger trend. Experience and judgment play a vital role in that determination ...as does Elliott wave analysis. Charts will generally appear when you use Internet Explorer or Firefox. Do not use Google Chrome to view charts.|
"In Feb. 1989...when Elliott Wave forecasts of Dow 400
were prominent, a bold prediction was made by
Elliot Brenner, editor of The Elliott Wave Chart Blog, in
Stocks and Commodities magazine that the Dow would
exceed 6000 by the latter half of the 1990's...he
Dr. Howard Young, Editor, The Compleat Strategist
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What is The Elliott Wave Chart Blog all about?
"...Practically all developments which result from (human) social-economic processes follow a law that causes them to repeat themselves in similar and constantly recurring serials of waves or impulses of definite number and pattern..."
R. N. Elliott, Nature's Law-The Secret of the Universe.
This site is dedicated to the work of R.N. Elliott, who observed more than a half-century ago that stock market movements unfold in a series of rhythmic patterns which are based on a natural progression of shifts in mass investor psychology. As market participants vacillate between greed and fear, price patterns develop. These price patterns are called "waves". The charts on this site examine and analyze the wave patterns in the U.S. stock market.
Elliott discerned various types of wave patterns and labeled them. He discovered that there were two basic types of wave patterns: (1) waves which move in the direction of the main trend of the market...impulse waves consisting of 5 smaller waves, and (2) waves which move counter to the market's main direction...corrective waves consisting of 3 smaller waves. He further discovered that each wave, whether impulsive or corrective, subdivides into smaller waves and/or comprises a part of a larger wave. Waves can, therefore, be analyzed in time periods ranging from a matter of minutes to many centuries.
The most difficult part of Elliott Wave analysis is correctly labeling and counting the waves. A correct count can lead the analyst to amazing accuracy in forecasting the market. An incorrect count will, of course, have the opposite result. Wave counting is quite subjective...and will usually result in as many forecasts as there are Elliott Wave forecasters. Because of this, it is often said by its harshest critics that Elliott Wave analysis is useful only in hindsight...which is to say that it is not very useful in predicting the future course of the market. We respectfully disagree. We have found that simplicity, proportionality and flexibility in wave counting leads to the best results. The charts on this site are created and based upon many years of experience in looking at Elliott Wave charts of the market. One's ability is constantly challenged by the market and is always evolving...hopefully to a higher level. Our goal in providing these charts is to help educate, enlighten, and encourage those who are interested in Elliott Wave analysis and market timing.
Even if you are not interested in Elliott Wave analysis as a market timing trading technique for short term profits, an understanding of Elliott Wave still has value. It brings to the investor a sense of historical perspective. Markets never go in one direction forever. Markets that go up, eventually do come down! Unlike any other form of analysis that we know of, the sheer power of Elliott Wave analysis as a forecasting tool creates a great deal of confusion and worry about the market. It goes without saying that the followers of this form of analysis believe that market timing is critical. It is up to you to decide whether market timing should be a consideration when you make your own investment decisions.
Important: Information provided is for educational purposes only and is not, directly or indirectly, to be construed as investment advice. Also, no guarantees are made with respect to the accuracy of the information, opinions, market timing predictions, etc. offered herein.
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