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Strategies & Market Trends : Elliott Wave and Index Trends with POKERSAM -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (1597)	3/10/2024 2:48:53 PM
From: POKERSAM	2 Recommendations Recommended By GROUND ZERO™ Mongo2116 Read Replies (1) \| Respond to of 1764

It did not look toppy to the Perma bulls. Then again it never does. They deny the existence of corrections. The Rooster has denied corrections exist because he sees rallies when they end. That is insane. It is hard to blame them though. Being bullish is so easy because being optimistic is the natural state of man. Every endeavor that man pursues is driven by optimism. From farmers, fishermen, builders, Doctors, and all the rest pursue their fields with optimism. In trading in the markets being 100% bullish pays off 60% of the time. The other 40% of the time when you should be bearish staying bullish is just stupid. The market moves both ways and moving with it is the way to maximum profits. When Elliott Wave is applied without bias it can warn you when trend changes are possible and probable. Then its rules and guidelines confirm or invalidates those possibilities. A possible long-term trend change top took place March 8, 2024 at 5189. Now that will be confirmed or invalidated. If confirmed the drop will be dramatic and long term. If confirmed the perma bulls will miss it and begin to return profits made from October 2022. Those profits made up for loses they suffered from Jan, 2022. And so it goes. In the end it works out to 60% up and 40% down. Think of it as six steps forward and 4 steps back. So if you are permanently bullish how you end up depends a lot on your age and when you began. At this particular point just ask yourself what a 50% correction in the stock market would cost you. IMO that is where we are. I believe the next bear market will give the S&P a 50%+ haircut. Whether it has begun or not awaits confirmation. But it is possible. I will wait for confirmation or invalidation and then trade accordingly. It doesn't matter to me which way it goes. I am not a perma. I do want to be warned when the trend change could occur and very soon after it does. EWP without bias can assist in that.