Profunds index and sector trading

[Z-M-L]

Eventhough I do NOT always agree with Bob Prechter's current wave count, he has written the most extensively about the subject. I would go to his website www.elliottwaveinternational.com and by his book. You may also want to subscribe to Steve Hochberg's Short Term Updates to get a feel for how to count short-term wave structures. The book will explain the Elliott Wave Principle and Fibonacci; but in real life, the wave structures are ar more complicated and at times difficult to identify until MORE of the wave structure unfolds. That is where experience comes in play; coupled with other sentiment and MA indicators to help clear up the short-term picture.