ATA'S CHARTS
This site is maintained as a posting area for charts that are created for the illustration of Elliot Wave Theory. They are demonstrations of how to apply technical analysis. I make no claims as to their suitability or fitness for any purpose. No charts posted here should be viewed as a solicitation to buy or sell any security.
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Elliot Wave is only a theory, and no scientific investigation has shown it to be fact. My interpretation of the theory is only my opinion and may be incorrect. Projections among Elliot Wave practitioners and other technical analysts tend to vary considerably and no one source of input should be used to make investment decisions. It is not recommended that you engage in any financial transactions based on information contained herein. Do your own due diligence and trade at your own risk.
Just buy calls? This is one of those situations where you pretty much know whats going to happen but not quite. Cuteness is always expensive so I guess I'll join the crowd and cover up sometime soon. The red numbers are the standard retracements of wave three. It's a Prechterism that one or more of the wave of a CT should relate by .618. I wonder if there hadn't been a 9-11 if wave one would have been .6 rather than the .9% that it is?
It's interesting that the ndx and other tech indicies have retraced little of the october move while the dow and spx are off considerably. If a person had bought tech around the october lows they would still be comfortably in the green. If we are in a triangle from the december highs by looking at ndx and other techs it appears that another wave down is needed. As noted above it is possible that this is a leading diagonal and after a sharp correction an impulse down. It's difficult to find an impulsive structure to the odd subwaves so perhaps the LD theory is unlikely.
Donations are appreciated; however, I would like to make it plain that I am not seeking funds from proprietary traders. Most of what I have learned has come from other traders that shared their knowledge freely. Mostly I use this space as a way to store the charts I create and as a tool to more effectively communicate with people that I correspond with. By combining my desire to learn HTML with my love of trading I have reason to practice and it doesn't seem like such a drudge. If you are a new trader and I can somehow give you a leg up then that's great. Just remember there is no substitute for experience and you are going to lose money before you get it. If you have dedication, discipline, and a desire to succeed, you will eventually do well. Most of us blow out 2 or 3 accounts along the way and you probably will too. Be sure to read the disclaimer and don't forget that anything you find here is not trading advice.
Many of the longterm charts used here are courtesy of Sharelynx.net, a goldbugs paradise.