Short Term Trading Member Forum

[techcharter]

Jazz,

You build a good case at the intraday level. The FED has been printing a lot of money lately. At the larger timeframe, the DOW has been making lower highs and lower lows. This is bearish.

http://charts.barchart.com/chart.asp?sym=$indu&data=A&date=071504&den=MEDHI&evnt=off...

I wonder if the FED finds any value in Elliott waves? Their timing for printing more money co-relates fairly well with market tops so it is ready when the market starts to slip. The FED wrote a white paper using adaptive system parameter estimation to model the economy so 5 year plans could be made accurately. The result was the model was only accurate for predicting 2 years in advanced. Anyone who has taken signal processing classes should be able to explain what is happening.