Friday, June 11, 2010

Big Picture

As is obvious by now, I use my Trend Models to determine dominant trends and align my trading accordingly.  I also utilize Elliott Wave as a secondary perspective.  Both tools are prominently displayed in the following big picture SPX chart:



When it comes to Elliott, I use three sources for my analysis:

(1) Robert Prechter (and to some extent, his staff of analysts), author of the bible of Elliott Wave analysis and probably the world's preeminent EW authority;

(2) Advanced GET software which applies a mechanical, rule-based approach to wave analysis with the goal of identifying specific trade set-ups;

(3) Allan P. Harris, your author, advocate of common sense and simplicity, bon vivant,  and hopeless romantic who falls in and out of love like water swirling around a bath tub drain.

This weekend I will be sending out my big picture analysis in my Weekend Update to subscribers of my Trend Following Trading Models. All of the above described sources will be utilized for what is sizing up as a compelling juncture of trends and waves. 

Consider the above chart a head start on my analysis. 

It's not brain surgery.

Well, maybe it is.


A

6 comments:

Anonymous said...

Allan, any comments on the MMRF news just released? Looks like just what we've been waiting for! Thanks.

Anonymous said...

Prechter is big bear himself.
I see inverse H&S (eem is even more obvious)

Allan said...

Re: MMRF

I really like this company and its longer term prospects, but while its weekly trend is UP, its daily trend is DOWN. Would prefer them to be both UP.

Anonymous said...

Allan

set yourself free, eliminate

#1 Prechter

you don't need him.

Anonymous said...

Allan you are man who may appreciate the sweetness and pain that is tango.

Great work that you're doing by the way.

http://www.entusbrazos.fr/

Jonathan Tedd
tedd.co.uk

Anonymous said...

I enthusiastically bought MMRF when Allan wrote it up a month ago.I bought it at .27
It immediately dropped to .20, then on down to .19,.18 etc

floundered there all these days,and I got tired waiting for it to show any rally energy...all the while the S+P has been rallying now ...MMRF has shown no power. I sold it and took my loss.

I should have listened to my first gut instinct,which said "No....no,allan,....no..... no to their medical data collecting...no to their merging with research database material....no,while the market rally is going to tire out soon....nooooo"

Allan, when NNVC makes me a millionaire,and I exercise my vow to send you 10 thousand,I will have to deduct the 600 I lost on this awful stock pick. plus another 2 thousand on GNVC I lost.

i hope i'm not being too harsh about it.