Replies to post #239 on SPX Elliott Waves (SP500)

[gdl]

This days move already tells me the following:
1 - the lows will be either around 2740 area matching last lows or more likely break thru to new ones. this in the same time frame as the assumed new highs. Just like 2016 all ya got to do is a slight adjustment of the chart and PRESTO EW rocks!

This is YET one more glaring example of why EW stinks. you are better off without the wave patterns extended beyond one month. To decide we have new highs dead ahead and ignore fundamentals and trumps temper tantrums proves fanatics can't win. there is NO SYSTEM on this planet that will give you the correct future. NONE. Called hard work and stay focused on only immediate moves with zero bias on future. I mean ZERO.

Lets recap why this is not WEAK hands. China not only declared war they fired the first salvo. the first! If you know anything about TRUMP you must know he will double and triple down soon. His GOP party has already proven to be gutless cowards. BUT as spooky as today is i suspect many will revert back to rally mode. i also suspect the real danger has nothing to do with the financial markets. Watch real WARS get started and develop into world crisis. Watch TRUMP interfere in Hong Kong. South China Sea where they are already displaying their military power with "exercises".

NOW DOWN around THREE percent. Powerful weak hands. It will take true strength to bet against the current here. I see the day ending near or at new lows as i described in opening. 6th day today. Even a big drop to come usually has the 7th thru 9th day as up days. If this pattern holds true i conclude we end the 2 months near or below the previous lows. ILLOGICAL to assume we forget the trade war over next 2 months. Not happening. Will TRUMP throw in the white flag and make nice? now YOU tell me the odds of that. Shesh,logic flies out many windows. Miraculous move to new highs in two months is always possible but I myself would NEVER BET IT! N-E-V-E-R!

[gdl]

2821 was the LOW....

I guess we can ignore that drop and pretend we never got below 2842.

So Elliot where does that leave you? in the dust? But remember folks Elliot is never wrong it's YOUR weak interpretation of the charts.

Can we possible be in a bullish mode here? I suppose the thousands of ways to readjust the chart means it can. Awaiting the new and shiny version.

Bottom Line: Forget reality and trade wars, earnings disappointments, projections of a 20 percent surge in earnings but not till first 2 quarters of 2020. Forget that the FED only dropped rates by 25 basis points. Forget this historic 10 plus bull run. The two trillion giveaways and a federal policy that does away with silly rules and restrictions for companies.

Please spell out in simple English where we are headed.