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At least for now, this guy's count for a top at 1129 and the start of a large move down which he showed on Tuesday after the close, has worked out well. I went short S&P emini when I saw his chart and woke up Wednesday to a very tidy profit. Can't ask for more from a blog. This is his chart from Tuesday after the close: You saw yesterday how it followed through. But he's not biased to the bear side - he has a bullish count too and is cautious about the bear case until we drop further. So, a pretty balanced approach, which makes a change from some of the biased stuff that's out there. His update last night is a good read for levels to watch out for for signs that the bear count might be failing. On the dollar, he showed on Tuesday a possible 1st wave top in the dollar's rally off its recent low, a couple of hours before it fell, and identified the target at around the 61.8% retracement - Look where it turned back up: Nice! Have to admit, I have always been sceptical about EW and fib stuff, but this guy has demonstrated to me that it has practical value and you can actually make money using it.
Roger D, this guy's count agrees: But he says 1088.01 has to go to be more sure (well, as sure as you can be I guess)
Toggle Commented Aug 6, 2010 on A Top of Sorts is Near at Planet Yelnick
Dave - see the long term count 3 There's a lot of good stuff over there - I can spend ages going through it
Toggle Commented Aug 5, 2010 on A Top of Sorts is Near at Planet Yelnick
Dave, I posted a couple of links to a blog above which shows a count agreeing with your A wave to April 2010, but he also puts the bearish case. Looks to me it could be either so until something decisive happens you have to trade with both possibilities in mind. Mostly this means take your profit while its there!
Toggle Commented Aug 5, 2010 on A Top of Sorts is Near at Planet Yelnick
Nick Radge I don't think you can say for certain that the move off the March 2009 low is an impulse or is a correction - it could count as either. This guy shows both possibilities: Check out his long term dow counts which show how these moves from March 2009 might fit into the bigger picture. Yes, STU is too dogmatic and probably not too objective, but they may turn out to be right...eventually. Every dog has his day.
Toggle Commented Aug 5, 2010 on A Top of Sorts is Near at Planet Yelnick
Mr Pibb, I used to visit there regularly. After a while I got tired of the arrogant, patronising, self-serving attitude. I only hung around because gi61et (a link to whose blog I posted the other day)started posting there with some fantastic, really helpful charts, quite a contrast to what the host was posting. I had a look in when I saw your post above. He's changed some things on the blog but I can't say its for the better. The content still looks uninteresting to me. And what he can't change is the attitude I mentioned above. I can't be the only one who noticed it - I expect people ended up voting with their feet. I certainly did once gi61et stopped posting there. The number of posts he's getting is down hugely, it seems. And alot of the posts are his own. It speaks for itself.
Saw this yesterday (28th) before the market opened - some good fib analysis on a 60 min chart which suggested some type of top may have been in at the 1020 high, coupled with his chart showing how it could be counted as complete which he posted on July 27th - it proved good for a decent trade even if it ends up not being THE top of this move:
Interesting chart suggesting we might have seen or be close to a top in the market -
Toggle Commented Jul 16, 2010 on Muni Bond Update at Planet Yelnick is now following The Typepad Team
Jul 16, 2010