Last week, we noted that we hadn’t given an Elliot Wave analysis update for a while. Of course – thanks to the universal principle widely known as “IN YOUR FACE!!!” – an Elliot Wave analysis then gets published within a week. How nice to know that the Universe still works. Elliot Waves are an advanced analysis method based on the idea that markets don’t move in nice even single-direction motions.
Which anyone who’s ever traded more than once knows. Ralph Nelson Elliott discovered what he named the Wave Principle in 1938 while analyzing the motions of the Dow Jones Industrial Average, and claimed to have found evidence that Econ 101 principles of cause-and-effect couldn’t help predict market price action. It’s an interesting idea, and somewhat complex to learn, but we keep an eye on it because it does have a way of spotting major tops and bottoms.
And if you don’t sell everything at the bottom or do all your buying at tops, you stand a much better chance of making money. Today’s featured article is this brief look at silver through the eyes of Elliot Waves, with a VERY interesting call on whether we’re at the bottom.
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