Printer Friendly

eMail Article

October 14, 2008

Update Hope
by Joseph Russo

Is "A" bottom in?
Should the masters of the universe be successful (at least for a time) in maintaining their illusory, and subtle monopolies over the masses, the best hope that exists today, (or upon a marginal retest) is for an interim (a) wave terminal marking a low prior to a much more punishing (c) wave into the 2009 period.

From an Elliott Wave perspective, the chart below represents the best possible hope given the data points recorded to date.

HOPE is in the air:

How low can we go?
As mentioned in our last article, given the present set of conditions, the chart below represents the worst-case scenario for a crash of standard proportion pummeling the Dow toward 3000 by years-end. Such a decline would equate to a near 80% decline over the course of 13-months, which is historically quite common for typical resolutions of this type. That said, all we have to add is to continue hoping for the best, but to also prepare for the worst.

Side-stepping the Abyss?

When it comes to strategically trading broad market indices, there is simply no match for Elliott Wave Technology's Near Term Outlook. We will gladly challenge any short-term advisory service or software generated algorithms that claim to outperform our consistent and impartial mapping of the price action in the Dow, S&P, or NDX.

Over the past three years, we have perfected the art of dispatching tactical trade set-ups and market forecasting to a consistent, impartial, and immensely profitable endeavor for those who take the time to embrace it.

The express focus of Elliott Wave Technology's charting and forecasting service is to help traders anticipate price direction and amplitude of broad market indices over the short, intermediate, and long-term.

We deliver this unique blend of proprietary charting protocol daily, with the express intent to convey timely and profitable information. Our daily reportsimpart strategy-specific guidance, which strives to forecast, monitor, and calibrate market impact relative to a multitude of signals that are in direct alignment with eight distinct trading strategies set forth in the members NTO essentials file.

Regardless of one's level of experience, users must allow sufficient time to become acquainted with the authors charting protocol, strategies, and tactical narratives prior to entering positions or developing discretionary trading strategies.

If you trade in today's increasingly uncertain and volatile markets, you need a reliable and consistent edge you can count on. If you want the very best, there is no better short-term advisory than the Near Term Outlook.

Trade Better / Invest Smarter...

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo, presently the chief editor and analyst for Elliott Wave Technology, has been studying Elliott Wave Theory, and the Technical Analysis of Financial Markets since 1991 and currently maintains active member status in the "Market Technicians Association." Joe continues to expand his body of knowledge through the MTA's accredited CMT program. Having passed the Level I examination in November of 2004, Joe is now preparing to begin study for his Level II exams. Upon successful completion of an exhaustive level III examination he will have earned the industries highly regarded designation of Chartered Market Technician.

Copyright © 2006-2008 Joseph Russo

Image rendition and html coding Copyright © 2000-2008 SafeHaven.com

« BullionVault.com -- Buy gold online - quickly, safely and at low prices »
« Honest Money: A History of U.S. Gold & Silver Currency -- by Douglas V. Gnazzo »

« Opinions expressed at SafeHaven are those of the individual authors and do not necessarily represent the opinion of SafeHaven or its management. Articles are available via RSS/XML. Please visit RSSHelp for instructions. »