Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Time to take the RED Pill - 28th May 24
US Economy Slowing Slipping into Recession, But Not There Yet - 28th May 24
Gold vs. Silver – Very Important Medium-term Signal - 28th May 24
Is Gold Price Heading to $2,275 - 2,280? - 28th May 24
Stocks Bull Market Smoking Gun - 25th May 24
Congress Moves against Totalitarian Central Bank Digital Currency Schemes - 25th May 24
Government Tinkering With Prices Is Like Hiding All of the Street Signs - 25th May 24
Gold Mid Tier Mining Stocks Fundamentals - 25th May 24
Why US Interest Rates are a Nothing Burger - 24th May 24
Big Banks Are Pressuring The Fed To Losen Protection For Depositors - 24th May 24
Another Bank Failure: How to Tell if Your Bank is At Risk - 24th May 24
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24
Micro Strategy Bubble Mania - 10th May 24
Biden's Bureau of Labor Statistics is Cooking Jobs Reports - 10th May 24
Bitcoin Price Swings Analysis - 9th May 24
Could Chinese Gold Be the Straw That Breaks the Dollar's Back? - 9th May 24
The Federal Reserve Is Broke! - 9th May 24
The Elliott Wave Crash Course - 9th May 24
Psychologically Prepared for Bitcoin Bull Market Bubble MANIA Rug Pull Corrections 2024 - 8th May 24
Why You Should Pay Attention to This Time-Tested Stock Market Indicator Now - 8th May 24
Copper: The India Factor - 8th May 24
Gold 2008 and 2022 All Over Again? Stocks, USDX - 8th May 24
Holocaust Survivor States Israel is Like Nazi Germany, The Fourth Reich - 8th May 24
Fourth Reich Invades Rafah Concentration Camp To Kill Palestinian Children - 8th May 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Trading 2008 - Resolved Price Interpretation

Stock-Markets / Elliott Wave Theory Dec 31, 2007 - 12:45 AM GMT

By: Joseph_Russo


"Who is the judge? The judge is God... Why is He God? Because He decides who wins or loses, not my opponent ... Who is your opponent? He does not exist.... Why doesn't he exist? Because he is a mere dissenting voice of the truth I speak."

The above quote comes from the film “The Great Debaters” directed by Denzel Washington. The Great Debaters was inspired by Wiley College, a traditionally African-American school in Marshall, Texas, with Melvin Tolson, its iconic debate coach.

In the film, Melvin Tolson (played by Denzel Washington) calls each potential debater trying out for the team into what he called the "hot spot." He marks it in chalk—a white box drawn on a wood floor. For Tolson, it's more than a box: It's a battleground. One by one, he invites would-be debaters to step inside and fight—not with guns or knives, but with diction, logic and passion.

"Debate is blood sport," he says in the film , "It is combat." Sounds a lot like speculative trading and investment, doesn't it?

Like trading, debating is such a disciplined and sophisticated activity, that winning does not come without extreme hard work and preparation. Patience, logic, and passion are essential prerequisites.

Trading too is a blood sport. Traders and Speculators find themselves in the “hot spot” and on the battleground whenever a position is opened and one's capital is at risk.

Speculative trading and investment - RESOLVED

The otherwise irrational markets in which one elects to speculate, in fact - behave in a rational and predictable fashion if one knows how (or is shown how) to properly interpret the price-action-landscape before them.

Price-fluctuations are inherently ordered to confuse and instill fear-of-loss in the majority of participants. Despite such harsh realities, Elliott Wave Technology remains steadfast, employing a mix of proprietary methodology so as to accurately and consistently frame the price-action with the highest level of precision imaginable.

Although we maintain directional opinion as to the larger destination of price over the long-run, – such opinion is subject to change, or be postponed contingent upon the near-term price-action in the short-run.

Consider this: All one needs to drive safely in the dead of night is the ability to see the 200-feet of road ahead. At 200-feet of visibility, one can safely navigate and traverse thousands of miles to one's desired destination. Such an approach embodies Elliott Wave Technology's fine-tuned discipline in presenting the ongoing landscape for active trading and speculation.

Below, we have taken the liberty to modify Tolson's mantra for active and would-be traders:

"who is the judge?

The judge is the price action...

Why is it the price action?

Because the price action decides who wins or loses, not my opponents…

Who is your opponent?

he does not exist....

Why DoesN'T he exist?

Because he is a mere dissenting voice of the price action i trade.” 

Short-Term Trading Summary

Our proprietary charts graphically depict the dynamic price-action landscape as it unfolds. We carefully draft the analysis to be free of bias, highlighting most, if not all of the pending trade-triggers and counter-trend buy/sell probes which we telegraph well-ahead of the current price data.

Below is graphic summary of trade-triggers and price-target objectives successfully identified via Elliott Wave Technology's Near Term Outlook from mid November through December 28.

Make your 2008 New Year's Trading Resolution a commitment to RESOLVE the markets with the guidance provided by unparalleled accuracy of the Near Term Outlook.

The chart above is not a working analysis chart, but rather a graphical summary created to reflect the net effect of our ongoing analysis.

The three charts that follow are the “working-charts” with commentary provided in real-time to our clients.

The chart below illustrates that previous mentioned price-path guidance was absolutely correct in anticipating additional lows for the move.

Note: The “last key pivot” chart referenced in the real-time commentary above is not shown in this articles presentation.

Bear in mind, we do not predict prices, nor do we issue specific buy and sell recommendations in advance of trade-triggers, counter-trend probes, or upon price-targets achieving objectives.

Although we graphically identify explicit entry-triggers along with point-values and price-target objectives, decisions to place orders and manage trades through fruition are the sole the responsibility of each individual.

Elliott Wave Technology invites you to make your 2008 New Year's Trading Resolution a commitment to RESOLVE the markets alongside the guidance provided by unparalleled accuracy of the Near Term Outlook.

The Near Term Outlook covers the short-term Dow, S&P, and NDX five-days-per-week, and issues near-term updates for the Dollar, Gold, Crude Oil, and the HUI two times per week.

Until next time,

Trade Better / Invest Smarter...

By Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Copyright © 2007 Elliott Wave Technology. All Rights Reserved.
Joseph Russo, presently the Publisher and Chief Market 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.

Joseph Russo Archive

© 2005-2022 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in