The Elliott wave model is not a crystal ball. What Elliott Waves do offer, however, is a very clear message at certain junctures in stocks and commodities -- if you know what to look for:
Commodities usually end in a very big...wave. Unlike the stock market, commodities usually have their extensions in the [final] wave. It's usually some kind of blow off and that's because it is associated with a different kind of emotion than a stock market peak.
A stock market peak is built on hope, which is very slow to build and very slow to dissipate. Commodity tops are built on fear, so they tend to be very dramatic and they tend to be spiky.
"Understanding the Extraordinary Value of the Elliott Wave Model:
Lessons in Real-Time Application" - DVD
So how do you know if you are approaching a market peak, and what may happen next?
In this DVD, Prechter's recent examples of market action show how fundamentals do not govern the price trend of stocks and commodities -- whereas the collective psychology of participants in those markets does.
Discover the usefulness of the Elliott Wave model for yourself as Prechter walks you through the most important stock market junctures since the Great Depression, and shows you exactly what Elliott wave forecasters published right around the time of each historic turning point. This hour-long DVD is the most recent full-length talk available from Bob, showing you how past forecasts played out in real time.
Learn the thought process that makes for a successful market forecast -- and how to put it into action -- in this one-hour presentation recorded at the 2010 Legends of Trading Forum in Chicago. Order this presentation NOW>>