Hello Folks! I am back after a two-week absence. Of course, many of you stayed in touch via the comments section. Today, I have written an extensive article on Wall Street Journal’s Market Watch. There are five different Elliott Wave charts of General Electric Company (NYSE: GE) which offers some great learning opportunity for you. Remember, every chart posted by me will carry something subtle that you can learn from. So even if you have no interest in some of the instruments that I cover, you should still take a look. After all, you visit WaveTimes because it offers you a different perspective of the markets. Enjoy, and share.
Here is the link to the article on Marketwatch.
6 Comments
Hi Ramki:
I hope you and your family had a wonderful/restful vacation. Welcome back–we all miss you.
Ron
HI Ron, Thank you so much. Glad to be back.
Hi Ramki,
Thanks for this analysis. I have a question about the first chart though. You mentioned there that Wave 3 was a 161.8% extension of Wave 1. In the chart you also annotate that Wave 3 is of normal proportion and in the article you write ‘As the first and third waves appear to have developed as ‘normal’ waves, we shouldn’t be surprised now if the fifth wave extends’. But isn’t Wave 3 an extension too because it’s not the same size as Wave 1? Also given this information, shouldn’t we expect Wave 5 to be of equal size as Wave 3, because often times two waves are of equal size? That would give us a target of 25.83 for Wave 5.
Hope I’m not confusing anyone, because I’m a complete beginner with the EWP. I just finished reading your book yesterday and I’m going to read it for a second time soon.
All the best,
Ruben.
HI Ruben, I dont remember it now, but I must have mentioned somewhere that even a measure of 161.8% of wave 1 would still be considered a “normal” wave 3 by me.
Okay thanks, I’ll remember that.
Have a great weekend,
Ruben.
enjoyed reading your marketwatch article, mr ramki. im sure when all the waves and sub waves fit together like a puzzle gives a great feeling of satisfaction. regarding chevron, it traded within a point and a half from your target so far. only ewt warns us to be cautious at these levels. chevron and now ge both give warning of impending correction in the dow.
nadir