This blog aims to teach traders how to use Elliott Wave analysis in their trading. A variety of markets are covered to demonstrate that the principle works just as well in any of them. Whether you are a short term trader, or a medium term investor, you will find that this approach will add considerable value to your bottom line. Everything in this blog is for free. Every chart presented was done with a forward looking approach. Wave Times is different because I make no pretense that I know it all. However, I do know that a trader can make sensible trading decisions by using these techniques. Go ahead, and check it out yourself. These comments reach a few thousand enthusiasts. If this is your first time here, welcome aboard.
Today, I present you with a quick chart of the Dubai Stock Index. I am giving you a clue. Because the 2 impulse waves are normal, the fifth wave could potentially become an extended wave. However, you should also relate the current impulse wave to the measure of the prior impulse wave to see if you can find some relationships. Go ahead, and test yourself.
Best of luck.
But surprise, when I finally got to check out the stock, it was already up by over 12% from its resent lows. My Bloomberg screen showed a related news from “Insider Monkey” which stated that billionaire Steve Cohen’s SAC Capital Advisors increased its holdings of Cliffs by 11% during Q4 of 2012. I then decided that I should spend some time doing a careful study of this stock, and share it with the world-wide readers of WaveTimes. The comments are all on the charts. Read them in the same sequence as they appear here, and form your views. Good luck. Ramki
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