Elliott Waves signal Home Depot correction US Stocks outlook Add comments Jul 182012 Ramki’s Elliott Wave analysis of Home Depot Inc (NYSE:HD) appears on Forbes today Tweet Share this:FacebookGoogleEmailRedditTumblrPocketPinterestLinkedInPrint 17 Responses to “Elliott Waves signal Home Depot correction” Joe says: July 18, 2012 at 2:24 pm Hi Ramki didnt know where to ask..so trying here. The ETFs gold miners gdx – if I read correctly are in wave 2 after impulse wave 1. Can you confirm that. Etf trades on US markets. I am assuming I can apply wave principle for ETFs as well. Thanks if you can guide me here. Ron Reply Ramki Ramakrishnan says: July 18, 2012 at 10:23 pm Hi Joe (Ron), Yes, you can apply EWP on any well traded ETFs just as well as on an individual stock. I think GDX just finished a minor 4th wave at 48.58 and will not look to buy it anytime soon Reply Joe says: July 19, 2012 at 12:46 pm Thanks Ram Reply sebastian Di Giorgio says: July 18, 2012 at 3:26 pm Are you stil bearish on the S&P. Have your views changed on the count of June 11 2012 Reply Ramki Ramakrishnan says: July 18, 2012 at 7:57 pm Hi Sebastian, no change in big picture if snp. But need to fine tune entry level for shorts Reply Maggie says: July 20, 2012 at 11:26 pm Hi Ramki First i just want to thank you for sharing so much with us. My comment is really a question . I would like to ask you where/how you find these worst performing stocks on the DJI such as Home Depot? Please forgive me for asking such an elementary question as i am new to EWP and trading . Best, Maggie Reply Ramki Ramakrishnan says: July 21, 2012 at 1:50 am Hi Maggie, thank you for your question. Let me assure you that I have asked even more elementary questions when I was learning. I get my information from professional services such as Bloomberg or Thomson Reuters. but I am sure you can do a web search and get the same results. For example, yahoo finance has Top Movers listed quite clearly…. Reply Karuna Kanagaratnam says: July 21, 2012 at 9:31 am Ramki, Hope all is well. I have two questions. 1) Is it possible that Home Depot hasn’t completed wave 5 and may go higher before correcting? 2) What do you think of Tony Caldaro of view that we are still in a bull market with 1499 year end target? Thanks, Karuna Reply Ramki Ramakrishnan says: July 22, 2012 at 2:56 am Hi Karuna, (a) Anything is possible. We just have to trade our view with appropriate stops. (b) I am aware that some other reputed analysts are bullish. As you know, there are points in time when two counts are admissible. We will know which is right only later on. As of now, I am comfortable sticking to my views. Reply Itclegacy says: August 19, 2012 at 11:29 pm Hi Ramki, I bought your book which is very enlightening. I follow your comments with great attention. So I have bought puts on HD with Nov. 12. Reply Itclegacy says: August 19, 2012 at 11:41 pm Sorry a mistake happens that I couldn’t write in order in last reply. So could you please update your counts on HD whether the 5 wave count has now been completed or is the new move ABC move? Another request would be the count on CAD USD? Could you please share EW counts and graphs? Many thanks regards Ibrahim Reply sebastian says: July 21, 2012 at 2:00 pm Can you update the chart on the S&p . Where are we on the count now. Do you believe that 1267 was the bottom? ) Are we still waiting for the big C down soon. thanks Reply Ramki Ramakrishnan says: July 22, 2012 at 2:50 am Sebastian, yes, I am still waiting for a big C wave down, but cant say how soon Reply sebastian says: July 22, 2012 at 8:18 am thank you Reply San says: July 21, 2012 at 2:38 pm Dear Ramki, Based on your interview on Forbes Market Blaster you mentioned about the C wave to 1060. Are you still expecting it to happen if yes then by when it will occur. Will it happen this year or in 2013? Thanks for your response in advance. Sanjeev Reply Ramki Ramakrishnan says: July 22, 2012 at 2:49 am Hi San, Yes, as of now I havent changed my views on the SPX. DOnt know how much time it will take, though Reply Steve says: July 21, 2012 at 3:12 pm Hi Ramki Thank you for answering my last question. Your answer has helped me cofirm my target for SPX. Your book has changed my EW counting to be, count “target” focussed. Would you indulge me to suggest my targets for SPX, which align with your double zig zag count. c & 2 = 1391 – 1405 range The market will let us know. Eagerly awaiting your new book Steve Reply Leave a Reply Cancel reply Name (required) E-mail (required) URI Your Comment Notify me of follow-up comments by email. Notify me of new posts by email.