Elliot wave is a technical analysis tool that doesn’t get much airtime, probably because it’s one of the least understood tools out there. One of the biggest users of elliott wave that I can think of is Paul Tudor Jones, the founder of Tudor Investment Corporation who has a net worth of over $3 billion and is considered by many to be one of the best traders out there.
J.C. Parets over at one of my favorite blogs, All Star Charts, put up a great post today looking at the relationship between emerging markets (EEM) and the S&P 500 (SPY) while incorporating Elliot wave analysis.
A short teaser from J.C.:
I’ve been writing allstarcharts.com for a few years now and I’ve mentioned elliott waves maybe two or three times. It’s rare that we discuss it, because it’s rare to see a pattern that I like enough to bring up. But today I’m looking at a sweet setup in Emerging Markets Stocks relative to US Equities that I can’t possibly keep to myself.
Elliott wave isn’t something I use very often but it’s nonetheless something we should not ignore. J.C. does some great work with intermarket relationships and technical analysis in general. Well worth the read.
Go read the rest: Interesting Elliott Wave Count Emerging (All Star Charts)
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Thanks for the shout out Andrew
I’ve been following J.C.’s blog for a while now as well. One day I hope to get to that level of technical analysis. I use to use elliot waves when I traded FOREX daily but haven’t used it in equities yet. Keep up the good work guys!
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