nandv

A follow up question, how about option trading? I am aware of thinkorswim, now part of TD Ameritrade. Any other with good pricing, and good software? Thanks.

Your comment is understandable. Please look at Bill Wolfe's web page, under FAQ, and I quote: " Bill, I see so much stuff on Wolfe Waves. How do I know right from wrong? By taking my course. Do yourself a favor and avoid chat rooms, like the plague. It is truly the blind leading the blind. For the zillionth time I will repeat: I have never seen a properly drawn Wolfe Wave on the Internet. More importantly, they are all drawn after the fact. It is like giving a child a crayon and having them play connect the dots. My students can often frame out the entire Wave—in advance—with only three points plotted. " If the rules are all WW is about on the website, what else Bill will teach, for his class, for $3K?? I don't claim to be a WW expert, after taking the class, still seeing waves not working, or can't forecast it in advance. My posting here is for for the sole purpose of showing the true power of WW, when used properly. If you look at all my posting, it's like Bill said, frame out the entire wave, in advance. For those who pay attention to my TBT post, hope you have chased the last leg to target, and get out, since it is going down.

Today's major indices (SPY, Qs, etc) are going well according to the plan so far, waiting for the 'peak' then drop, but I really don't know when... Today's TBT (and TLT) are of perfect actions, as seen below, the hourly and daily charts. It is very important to have a 'smaller contrary wave to be embedded in the point 3-4-5 of the larger wave' to make the wave perfect. We have here a perfect example (notice the hourly is a bullish wave embedded in the larger daily bearish wave). We'll see if indeed it reach the top, then drop... As a good exercise, you can try to plot the same (in reverse howerver) of TLT and see if indeed there's a bearish hourly wave and then a bullish daily wave for TLT. Enjoy. TBT Hourly TBT Daily

Suri, thanks for the feedback. All I can say is the book you referred is NOT correct in describing the WW rules. My advise is to study my charts (there're many of them now) and you'll see the common themes. Second advise of course, is to contact Bill for the class.

Some additional comments on this thread, in predicting the market path. 1. It is NOT recommended to predict, or even act on the WW waves other than from P5 to target. Ie., The charts I have posted so far are possible paths, based on potential WW formation. 2. In predicting the overall market path, one should look at all major indices to get confirmation. Today (I should have done this much sooner) we look at the RUT as belows, and the smaller bullish wave is formed (P5 is lower than P3), and we're on our way to the target (following the P1/P4 line). With this, there's no point doubting whether Q and SPY are still waiting for the P5 to go lower than P3.... The last chart is, once the smaller bullish wave completes, then the larger bearish wave will form, now all we have to do is to wait for the P5 overshoot to complete. This again, is a MAJOR challenge. Often times the clue is big spikes in volume. RUT hourly RUT daily

Today's action makes it more and more likely the smaller bullish wave (please re-read my thread) is completed. Also as stated in #588, the bigger bullish wave P4 to P5 will be 'swift'. Indeed the last two days actions are almost 'straight up‘. Once the price action is over the recent high (circle) then the bearish wave is formed. But since P5 often times will overshoot, there's no estimate of how high it will go before start dropping. today's SPY hourly

In Wolfe wave, there are NO requirements of P3, and P5 smaller than P1 in a bearish wave. As a matter of fact, often times, P5 will 'overshoot' higher than P3, making the 'short' even sweeter going from P5 to Target. And there's no such term called SwingPoint in Wolfe wave, at least not from Bill. It's evident from Bill's website that the true Wolfe wave technique is VERY different from what you see from the Internet. From my personal experience, taking class from Bill is the best investment I've made. Lots of hard work from your own, of course, in order to master the technique. Real charts are rarely text book style, being able to spot one in real time, be it 5 min, days or months, is the real challenge. Plus the external 'Uncle Ben' factor make analysis very difficult.

The past two days' actions are most likely due to "the bernanke put"! They just don't understand, if the price drops below the low of 11/16, making it a point 5, then the bullish wave is valid, then the 1 to 4 rebound would happen.... As Bill Wolfe once told me : "This system works for all 'freely traded' market, draw your own conclusion!" See SPX Daily

I forgot today's chart is spx. but they should be the same. below is the same spy 15 min, same actions. 2010-11-25-TOS_CHARTS |

587 is more clarification of 582, since you guys asked. the latest is of smaller scales, the last few days hourly chart. If all my charts are inspected in detailed, you'll find they're consistent. Waves are of different scales, and always running, smaller one down to min, large to multi-years. Once you're well trained, you'll be able to spot them in all scales. Examples are: 2010-11-25-TOS_CHARTS3 | SPX 15 Yrs monthly chart and 2010-11-25-TOS_CHARTS4 | SPX 3 yr daily chart

today's action was a surprise, probably Uncle Ben at work, just look at TLT and TBT! Attached are two pictures, one is QQQQ, one is SPY. Notice the bearish wave just completed yesterday (target). Sicne the target is higher than circle 2, which is also P3 of the potential larger bullish wave, this bullish wave has not formed yet! On the other hand, as long as QQQQ is not over the recent high of 54, the even bigger bearish wave has not formed. Same for SPY. Truly bull vs bear now! But looking at the EURO and Dollar actions, my assesment of the lower first then higher is still valid. 2010-11-25-TOS_CHARTS 2010-11-25-TOS_CHARTS1

So far it's still on track. How low is P1 is the real challenge, as I said, it's my estimate. Also notice the on 4/16 there's a 'cross' of the price action against the p1/p4 line for the bigger bearish wave, this is what Bill Wolfe called 'Pressure points' and it usually means the bearish wave's P4 to P5 will be very straight. This, combined with the estimate of P1, makes a real challenge to catch the big rebound!

Apologize if it was not clear in the 1st post. But if you re-read my post, and use the revised picture, it should be more clear. P1, P2, P3 are meant for figure reference, NOT the point # for WW. While/smaller font # are the wave counts for the smaller, bullish wave, yellowish/bigger font # is for the main bearish wave. We'll see today's action will surpass the smaller bearish wave 1-4 line! Comments welcome. 2010-11-19-TOS_CHARTS | Flickr - Photo Sharing!

please re-read the materials from Bill Wolfe. WW (bullish or bearish) are all 5 points, the target line is from point 1 to point 4.