My Mistake, Im new to this Elliot Wave Stuff.

We are still looking for the Date in August for a Down Turn in the YM.

I havent been doing this Elliot Wave thing long and I was trading all day so I forgot an important point.

Rather than the 5 Wave Pattern on the weekly chart its more like

a simple A B C within the bigger B wave bounce that could have ended today with the identical pattern from 1979 Oct 1st beigning today.

Thanks

Vdamus

I have a revised forecast for the YM.

I would attach a chart but there is no place to do so.

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Take the YM Top Connect it to the First Swing High in the Down Trend on a Monthly Chart.

Notice the Channel, the Upper Trend Line does not meet the gap until the week of November 22nd.

The upper trend line was drawn using the YM Top and the Next Swing High Down.

Then that line was duplicated, and attached to the Low in March 09.

Trendlines when drawn properly as you may know make pretty good timing lines.

And it looks like Elliot Wave 2 was just Completed going into Wave 3 on the weekly chart.

Plus significant resistance doesnt begin until around 11,000.

I have a Date in August for the Market to Possibly turn down but Im now starting to think it could be a Cycle Inversion in which case the market could go much higher.

I have to recalculate my August date just to make sure.

But I previously said I hope I was wrong about my initial forecast.

Either way time will tell,

Here is also a quote off of The Elliot Wave Site,

“Why are the truly big economic catastrophes so “big”? Put simply, it’s that such a small number of people prepare themselves beforehand. Once you read Bob Prechter’s just-published Elliott Wave Theorist for July, you’ll see that even fewer people will be ready for the soon-approaching worst leg down of the unfolding depression.”

Feel free to post this if you wish.

Thanks

Vinnie

Nice work!

What a database!

steve

Brian