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Strategies & Market Trends : Elliott Wave Theory
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To: David W. Taylor who started this subject12/10/2000 8:42:32 PM
From: David W. Taylor  Read Replies (1) of 43
 
One of the things that baffles me about Elliott Wave analysis is that most of the practitioners seem to do their counts on the major indexes. The idea is that EWT is a measure of the crowd's hopes and fears for the overall market. Thus the count for an individual stock may be less clear. Some stocks are so big that they may have good waves as well.

Recently I have noticed that Elliott Wave International has started to do some analysis of individual stocks. They have discussed AOL, HWP and GE recently and the chart that caught my eye in particular was GE's.

I cannot post the chart, because that would violate their copyright.

What I can say is that the count offered shows GE at the absolute top of a fifth wave of large degree right now. This gives a strong likelihood of a large decline.

This is major stuff. GE is the absolute bellweather stock for the entire market. The bluest of blue chips.

Anyone care to comment?
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