Bob Prechter has written a few books on the subject and has spoken many many times on how this is "The Top." I'd say his opinion is more than a little biased.
There are numerous ways to interpret the long-term price action of the DOW, a lot of which are bullish.
Well,I read somewhere that Prechter himself said that he was waiting/predicting almost 30 years for this moment! to see this "TOP"! and finally he catched the TOP on 2007!
That would be great to see if you can come up with unbiased,multi-possible counts for DOW like you did for EURUSD while ago so then we can cross or tick liklihood of bearsih or bullish counts one by one!
Well,I read somewhere that Prechter himself said that he was waiting/predicting almost 30 years for this moment! to see this "TOP"! and finally he catched the TOP on 2007!
That would be great to see if you can come up with unbiased,multi-possible counts for DOW like you did for EURUSD while ago so then we can cross or tick liklihood of bearsih or bullish counts one by one!
cheers
I do not play stock market.
I might look at the bussiness news, or stock market performance from time to time, just for general interest sake. But not more often that once or twice a week.
I don't even know, if it went up or down and by how much.
My interest in stock market (vague interest at that) is of academic nature only.
I do not play stock market.
I might look at the bussiness news, or stock market performance from time to time, just for general interest sake. But not more often that once or twice a week.
I don't even know, if it went up or down and by how much.
My interest in stock market (vague interest at that) is of academic nature only.
Mike,How can I find the stock market chart goes back The South Sea bubble,to 17th-18th?
I googled it but no success.
ANYONE CAN OFFER A CHART TO 150-200 YEARS HISTORY OF MARKET PLEASE?
Well,I read somewhere that Prechter himself said that he was waiting/predicting almost 30 years for this moment! to see this "TOP"! and finally he catched the TOP on 2007!
That would be great to see if you can come up with unbiased,multi-possible counts for DOW like you did for EURUSD while ago so then we can cross or tick liklihood of bearsih or bullish counts one by one!
cheers
Counting the DOW in a Wave series is almost an art.
If there is a loss of confidence in the US DOLLAR the stock market will goto many multiples of where it is today..
Price the dow in gold and i'm sure the current correction will be over in a couple years and we're not far from a bottom.
The very high was in '99 around 44.9, were @ 9.5 now. So the dow has lost 80% of it's value since '99. It will probably loose 98% of it's value when it's all said and done.
Here is what it looks like when you cut the noise out (US DOLLAR, QE ETC) ...
Last edited by speculator84; 09-02-2009 at 07:58 PM.
Mike,How can I find the stock market chart goes back The South Sea bubble,to 17th-18th?
I googled it but no success.
ANYONE CAN OFFER A CHART TO 150-200 YEARS HISTORY OF MARKET PLEASE?
The quick answer is " you won't"
Simply because the stock market did not exist then.
There were no economical indicators either.
All information is anecdotal.
I see sometimes people attempting to extend Elliott Waves to ancient civilizations, even to the stone age.
But, how can you? Based on what? Wars? Diseases? Famine?
Collapse of the Roman Empire is the only tangible benchmark and the ensuing Dark Ages.
(I hope that the history won't repeat itself this time around)
Counting the DOW in a Wave series is almost an art.
If there is a loss of confidence in the US DOLLAR the stock market will goto many multiples of where it is today..
Price the dow in gold and i'm sure the current correction will be over in a couple years and we're not far from a bottom.
The very high was in '99 around 44.9, were @ 9.5 now. So the dow has lost 80% of it's value since '99. It will probably loose 98% of it's value when it's all said and done.
Here is what it looks like when you cut the noise out (US DOLLAR, QE ETC) ...
Thats the dilema here if we price the DOW with gold then It should go much lower.how much was gold per ounce in1929,what was the DOW?
were you meant to add a chart to your post? cannt see anything.
hopefully someone post a chart from south sea Bubble onward so we can see the big pricture then we can talk///
at the moment we can not see much
The quick answer is " you won't"
Simply because the stock market did not exist then.
There were no economical indicators either.
All information is anecdotal.
I see sometimes people attempting to extend Elliott Waves to ancient civilizations, even to the stone age.
But, how can you? Based on what? Wars? Diseases? Famine?
Collapse of the Roman Empire is the only tangible benchmark and the ensuing Dark Ages.
(I hope that the history won't repeat itself this time around)
C'mon Mike! I am asking for only 150-200 years ago! ofcaurse there was markets.sure,there was industrial revulotion! gold was the money and had the price...and Certainly there was Bank Of England! (The Bank of England is almost 300 years old!)
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Originally Posted by justy10125
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