T/A ETF AND INDEX

[blasher]

LOL! . . yes, I agree . . . it all comes down to the HERD.
I just think the turning points are controlled by Big Money Market Makers.
THEY read the HERD and Open/Close THEIR positions at the ends of waves 5 and C.
THEY cause the blow-off tops and bottoms that bring us extreme SUPPLY and DEMAND levels.
As part of their jobs, THEY are privy to the real-time level-2 flow . . .
they push Supply/Demand to extremes as they get every last sucker of the HERD
into the end of the current Trend.
Anyway . . I'm not arguing with you . . I DO agree with everything you say. I just look for signs of the Market Makers at extremes.
I recommend reading Richard Wyckoff books.
Wyckoff spoke of Waves a few years before Elliott did . . with Wychoff's great work published in 1931.
Wyckoff's waves were seen i nthe charts and shown to be a result of the Market Makers playing the Herd Psychology.
Wyckoff's main theme was how to read these waves based on reading the moves of the Big Money Market Makers.
Elliott then saw these same waves and tied them to the Herd Psychology and focused on how to read the Waves by themselves.
Wyckoff uses those same waves but teaches how to read them using Chart Technicals .. simple stuff.
Anyway . . I've said all I want to say o nthe subject.
Enjoy the Day off !!