In a year where Wall Street analyst consensus was squarely defeated by the -6.24% decline in the S&P 500, and most stock markets around the world ended the year with negative returns, most analysts and even hedge funds were wrong about the market and suffered losses. The blue chip index here in Sweden, the OMXS30, ended the year at a staggering -10.67%.
Any theory which claims to be even somewhat predictive regarding the financial markets comes under fire from parts of the investment community. This is not at all strange, and is in fact beneficial for the users of any criticized theory as long as that theory does in fact offer an edge of some kind.
In any discussion of the credibility and validity of the Elliott Wave Theory – we get to hear about how 1) “EWT doesn’t work”, 2) “isn’t built on a sound basis and/or premises”, 3) “EWT is just a story” or “curve fitting”.
Most analysts like to talk a big game, but they aren’t actually profitable traders themselves – but rather marketers of things such as analyses, expensive trading programs, expensive online courses, and similar.
In this article, I take a look at my recent analysis performance and trading results, including the recent-most mini-crash. Most other analysts like to tell you about things after they happened, but our analysis service attempts to tell you beforehand what is most likely to occur in the financial markets – and while we’re not perfect, we’re very good and hard-working.
2016 has come to an end, and we’re just hours away from 2017! I wish all readers a Happy New Year!
Generally speaking, the broader an index is in terms of number of companies whose stocks are listed, market capitalization and active market participants, the more suited it is for Elliott Wave Theory analysis.
Last week, we published – in the Market Analysis section – a number of warnings about oversold conditions and strong probabilities for a bounce, in several equity market analysis updates. Let’s look at small excerpts of just 5 of those analysis updates.