The first thing which jumped out as us was how blogs have elliott wave labels now. We distinctly remember how few wavers there were May/March 08.
Even tiny, individual stocks are being labelled by elliott waves. If you believe (like we do) that the market is in the end a giant arbitrage game the more the number of elliott wavers the lesser its effectiveness. No wonder (we and) many elliott wavers have been calling tops for some time, changing labels on every turn and getting burnt.
As for Prechter(whom we very highly respect), his EWI subscriber strength could be the only asset in hyperinflation now. Maybe EWI should use the graph of their subscriber strength as a market turning point.
With so many elliott wavers expecting PIII will it show up?
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