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 and are designed for experienced traders with at least some knowledge of Elliot Wave Theory. 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. My opinions change often and without prior notice. 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.
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This chart shows where I believe we are at the current juncture of the bear market. The rule of alternation usually applies inside of ending diagonals as they are in fact impulse waves. The post 9-11 rally was for the most part sharp but was also flat once it reached it's price high. It's possible that another triangle is forming inside of the larger one, beginning with the august rally. The 50% retracement of the move from the January highs to the October bottom is at 762.5.
The above chart shows the possible complete pattern. It's really a toss-up at this point which is correct. The bullish Luc has left the building FWIW.
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