It's Been a While...

By: Joseph Russo | Tue, Jul 8, 2014
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Here's what's been going on with us

For starters, if you are wondering why you haven't heard from us lately, it's because Joe Russo, the publisher of Elliott Wave Technology, has been dutifully caring for his last remaining parent, who is valiantly fighting cancer at 85, and recovering rather remarkably from a major surgery in June. With that out of the way, we can now bring you up to speed on what else has been going on with us here at Elliott Wave Technology.

The roads we've traveled, and those that lie ahead are so vast, where to begin? Much has transpired since we arrived on the scene in 2004.

Sure, the more things change, the more they stay the same- a paradoxical phrase that remains rather applicable - however, the difference perhaps lies in the way in which we perceive and individually adapt to the dynamics of such constant cyclical change.

As the image to the left might suggest, sure, we can go right ahead, smile - lift a stiff drink to our lips, celebrate and state proudly for the record, yo-bro, the market is near all-time highs, "it's all good dudes." Is it really though? Let's be honest.

We all know that things are not nearly as good as the mainstream media leads us to believe.

Despite the stock market trading near record highs, there is far less participation from small retail traders and investors than there has been in a long, long time.

Growing numbers of people no longer have excess speculative funds with which to trade/invest, or they are simply hesitant of doing anything amidst what appears to many, a highly rigged system of financial corruption of which they want no part.

Those with funds embedded in 401k's and retirement accounts seem once again to be rather disengaged, burying their heads into the flawed buy, hold, and hope strategies that have a knack for throwing nasty curve-balls just when you least expect it.

Granted, things can always be worse, and yes, we must always make the best of what we have to work with. That goes without saying however, sometimes, and we think the present certainly qualifies; one simply has to go the extra mile to make sure that every base is covered.

Let's face it, apart from holding a healthy hoard of insurance via investment in monetary metals, until and if there is a major financial/economic/currency reset or collapse of some sort, US dollars and conventional financial instruments are the only game in town.

Therefore, it makes sense to use these tools to our favor for as long as they last - again - they are the only game in town apart from the few alternatives like the monetary metals and crypto-currency's.

At Elliott Wave Technology, efforts to track and label every intraday wave structure for impulsive or corrective attributes became a counterproductive exercise in futility quite some time ago, so we stopped doing it.

No doubt, we absolutely continue to monitor and track the larger degree long-wave counts, but we have largely abandoned expending precious time and energy trying to forecast future price action thru the interpretation of intraday bar charts.

Just ask any Prechterite or traditional Elliott Wave enthusiast what came of the highly anticipated third-waves down after markets went on to make new historic highs following both the lows in 2002, and 2009. I think you know exactly the type of table-pounding futility and money losing dogma we are referring to here.

Frankly, the bottom line is literally that such nuanced and subjective analysis, though intriguing, rarely works, and more often than not, doesn't really matter when it does, especially in the post 2002/2008 market environments.

All that matters to our subscribers and us - is being right more often than being wrong, and establishing winning and profitable trades in every timeframe. This is what we've been all about accomplishing for our subscribers for the past several years.

In doing so, we have replaced several of our old charting and forecasting subscriptions with just two, the Chart-Cast Pilot and the Long-Term Trend Monitor.
Via real-time email alerts and daily PDF reports, the Chart-Cast Pilot conveys exclusive actual positions taken within the portfolio, which continues to sport a phenomenal performance record in every timeframe.

On a quarterly basis, the Long-Term Trend Monitor provides the exact same type of service - but is dedicated exclusively to the self-directed long-term index investors of the world. It too continues to perform extremely well.

Beyond all that, holding down the family fortress, trying to come up with efficient ways of reaching more people to serve, and caring for an ailing family member, are amongst the other things that have consumed the balance of our existence to date.

Well, that's pretty much all that we've been up to, how about you? Drop us a line; let us know what you've been up to and what's important to you right now, we'll be happy to answer any questions you might have on the markets or our services.

Until Then,
Trade Better / Invest Smarter


The Chart Cast Pilot and Elliott Wave Technology's Guardian Revere Long-Term Trend Monitor are the proud sponsors of this communication.



Joseph Russo

Author: Joseph Russo

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo

Since the bubble, 911, and the 2002 market crash, Elliott Wave Technology's mission remains the delivery of valuable solutions-based services that empower clients to execute successful trading and investment decisions in all market environments.

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating their exposure to the financial markets.

Since the official launch of his Elliott Wave Technology website in 2005, he has established an outstanding record of accomplishment, including but not limited to, ...

  • In 2005, he elicited a major long-term wealth producing nugget of guidance in suggesting strongly that members give serious consideration to apportioning 10%-20% of their net worth toward the physical acquisition of Gold (@ $400.) and Silver (@ $6.00).

  • In 2006, the (MTA) Market Technicians Association featured his article "Scaling Perceptions amid the Global Equity Boom" in their industry newsletter, "Technically Speaking."

  • On May 6 of 2007, five months prior to the market top in 2007, though still bullish at that time, he publicly warned long-term investors not to be fooled again, in "Bullish Like There's No Tomorrow."

  • On March 10 of 2008, with another 48% of downside remaining to the bottom of the great bear market of 2008-2009, in "V-for Vendetta," using the Wilshire 5000 as proxy, he publicly laid out the case for the depth and amplitude of the unfolding bear market, which marked terminal to a rather nice long-run in equity values.

  • Working extensively with EasyLanguage® programmer George Pruitt in 2010 and 2011, the author of "Building Winning Trading Systems with TradeStation," he assisted in the development of several proprietary trading systems.

  • On February 11, 2011, he publicly made available his call for a key bottom in the long bond at 117 '3/32. Within a year and half from his call, the long bond rallied in excess of 30% to new all time highs in July of 2012.

  • For the benefit of members and his general readership, he responded to widespread levels of economic and financial uncertainty in the development of Prudent Measures in 2012.

  • He publicly warned of a major top in Apple on October 26, 2012 in the very early stages of a 40% decline from its all time high.

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