Elliott Wave Financial Forecast

Bearish bias ruins credibility

These guys are basically permabears who are constantly trying to use the Elliott Wave to show that the end of the world is just around the corner. If the wave count end up not fitting their prediction, they change the "alternate" wave count.

For objective Elliott Wave analysis, you can't beat Tony Caldero. His site is free.

Cnncurt

The theory seems logical and their analysis is compelling.

Elliott Wave International makes very compelling arguments for social trends and markets to be linked together. This is very sound logic, long term. Social trends can change years ahead of markets when the fed is printing money as they are today. Robert Prechter pushes the idea that you should be long or short the market ahead of the trend change based on social mood. Being caught on the wrong side of a trade for several years can leave you flat broke when the trend finally changes.

The Short Term Update written by Steve Hochberg is deadly accurate about 10% of the time. It is like having a weather forecaster predict rain every day, they get it correct part of the time… No, wait the weather forecast doesn’t cost $60.00 per month.

Your mileage may vary.

Emptypockets

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Started out great, then went sour.

The EW theory is intensely interesting and “should” be the premier trading indicator in the world. Unfortunately…

I have subscribed to the Elliot Wave Financial Forecast, EW Short Term, EW Theorist, EW Traders Flash Alerts (ETFs and Futures trades to make right now) and EW Intraday Index Forecasts (every hour a new forecast for the S&P, Dow, Nasdaq). I had them for 6 mos.

In May + June 2010, they were great. I was raking it in. They call you at home and email you when there would be a flash alert . Their messages "This is Elliot Wave announcing a new Trader's Flash Alert..." were like sweet + exciting music! They were around 75-80% good trades. But in July, the average started going down, and I started losing money. They were at 35.7% good trades for all of Aug, Sept, Oct 1st 3 weeks, when I cxld.



Looking back, they are bears. Lots of predictions for market downturns. In May-June 2010, the trend was down. So their forecasts were very accurate. When the market went back up, not accurate. I could not successfully use the intraday forecasts to day trade. I spent many hours tracking them, and they were around 50-55% , not enough to trust my money on.

They seem to take the internals, and say the market SHOULD go down. Often they would keep saying that the big correction is just around the corner. Maybe if there was no market manipulation, EW would work.

Busguy

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Highly technical analysis.

Lost more money on this than any other service. Robert Prechter and his interpretation of Elliott Wave has been wrong practically forever!

There are too many ways to interpret Elliott Wave for it to be meaningful. You could have ten competent analysts come up with 20 different interpretations.

Lazybones

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Elliott Wave Principle is unmitigated balderdash!

Being a believer in waves and cycles I am embarrassed to admit that I actually thought that the Elliott Wave Financial Forecast [use it as a proxy for the EWP generally] would have some degree of accuracy. The EWP must be the biggest sting of all time. EW practitioners always but always have the top label pattern and an alternate label pattern and 9 times out of 10 the 2 patterns point in opposite directiions and they get really excited when one of the patterns works! The EWFF over the last 15 months or more has totally proved what a nonsense EWP is because it has completely and utterly failed to predict either the Dow or Gold AT ALL. Just for the hell of it subscribe for one quarter and immediately read every EWFF in their archives for the last 18 months and compare them with the price of gold and the Dow. TOTALLY INCORRECT ALL THE TIME.

3_Lions

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not reliable

First of all I am really impressed and bow to people using the Elliot Wave Strategy. Its is so technical and very hard to identify the waves. I admire how Elliot Wave traders mark and count the waves up and down , the mini waves etc etc. But applying the said theory and analysis on a real trend can get you really confused. and in trading confusion is a very bad thing especially on your capital.

I dont use the Elliot Wave. its to geeky for me, Simplicity and easy identification is the key to successful trading .

Royskidorski

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AMAZINGLY INACCURATE: Don't fall for the hype

Elliott Wave theory is fascinating, I agree with that, and Elliott Wave International (EWI) definitely makes it interesting but that is overshadowed by the fact that the forecast and timing sentiments of their services are basically so inaccurate as to be worthless.

This is a racket designed to suck you in with endless explanations of theory and well written to the point you think, HEY this is great. Then you start to trade on their sentiments and you will find yourself busted broke before long.

I subscribed the main products and most important product the Short Term Update or STU as it is referenced. The guy Hochberg who writes this STU, entirely and I mean entirely missed the summer of 2010 July-Aug rally. Ever other day his STU say...'market going down imminently, bigtime!'. Of course the market went up for 5 of six weeks and then went sideways for most of three more.

Bottom line: I have been a subscriber to the STU product for six months, just cancelled. Almost ALWAYS WRONG - sums it up.

For one month early on I tried their expense FOREX STUs... Geeze absolutely worthless and entirely inaccurante but mainly just a total waste of time. Flipping a coin was just as accurate, I kept score.

Pal444

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great for charting....timing is another matter.

great charts..and good alternative view to CNBC,,,lol

Law6

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Waves are important

First, let me say that Elliott Waves are over-hyped by those that follow them closely and especially by those that write about them. Second, Elliott Waves are very poor at market timing - they do not know they wave formation they are in until they are in it (and often only after it is over). That said, I regularly read their stuff because once a major turn has been made, they are among the best at providing the potential length of the move. They were several months early on the 10/07 - 03/09 selloff, but they had the magnitude exactly right. They also called the turn in March 09. However, they also called multiple tops during the subsequently rally that never panned out.

Jj1

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