# Dow Jones....Elliott Waves Today 5-7-05



## MARKETWAVES (9 May 2005)

This is what the Dow is up to over the last three weeks...

These charts are being posted to show the importance of paying attention to weekly and longer term charts ....

Without analysing longer term charts... it is very difficult to see where true resistance or support is located ....

Applying retracements in my humble opinion is like any other analysis - highly subjective...

What I have found that works for me... is I read something very profound that W.D. Gann spoke of which was to take a significant low and a significant high and divide it by 8 .......

Take the number 1.... for example
Then divide the number by 8
That would give you these numbers

12.50 %
25.00 %
38.00 %
50.00 %
62.00 %
75.00 %
87.50 %

These numbers have a striking resemblance to Fibonacci retracement numbers as you can see...

Anyway, this is what I have found through my studies ... actually work for me ... it may not work for you ... but that is why they are markets... because of all our difference of opinions .....

This website is supposed to be a place where we can all come in and respectfully exchange our difference of opinions.

For without this there would be no market place ....

By the way W.D. Gann died being a very wealthy man... He made money in the markets ...

I cannot say the same for Nelson Elliot .... or Leonardo Fibonacci ..... they didn't make any money in the markets .... read about the man himself to find this out ....

Until my next post

Live well, and prosper ......


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## MARKETWAVES (9 May 2005)

*Re: DOW JONES ....ELLIOTT WAVES  TODAY 5-7-05*

LAST 3 CHARTS .


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## MARKETWAVES (9 May 2005)

*Re: DOW JONES ....ELLIOTT WAVES  TODAY 5-7-05*

LAST ....


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## krisbarry (9 May 2005)

*Re: DOW JONES ....ELLIOTT WAVES  TODAY 5-7-05*



			
				MARKETWAVES said:
			
		

> THIS  IS  WHAT  THE  DOW  IS  UP  TO  OVER  THE  LAS 2-3 WEEKS ...
> 
> THESE  CHARTS  ARE  BEING  POSTED  TO  SHOW  THE  IMPORTANCE  OF  PAYING  ATTENTION  TO  WEEKLY  AND  LONGER  TERM  CHARTS ....
> 
> ...




Please use lower case....as it said to be shouting over then net.  There are many users on this board that will shoot you down in flames!  This is an elite board so I have been told and all posts should be typed correctly and credible.


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## tech/a (9 May 2005)

*Re: DOW JONES ....ELLIOTT WAVES  TODAY 5-7-05*

Kris.

Nice sarcasm.

W.D Gann it can be argued on evidence also died a less than wealthy man.
According to his son.

If it wasnt for the fact that his lifes work was found in his garage just prior to demolition------countless $1000s in fees for teaching Ganns methodlogies would have been lost!

While interesting in longterm veiwing of a chart Im yet to see a demonstarting in realtime profitable use.

Other less than spectacular performers.
Jack Shwagger of Market Wizards fame.
Turtle Traders (Although there is a resurgence).
Joe Ross is evidently more profitable teaching.
There are many cases of teachers making more through theory than in practice-----------Frankly with the amount of $$$$s available from a public eager to get a piece of the action I personally dont blame them----good business.

I went to a Guppy seminar once and it was packed $159 ea and 150 seats.
That happened 2 nights running, my reckoning was a cost of around 3-4K.
Pretty good earn by the way!
Incidently I think Guppy is certaintly one of the serious educators but have no idea how successful he is.


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## dutchie (9 May 2005)

*Re: DOW JONES ....ELLIOTT WAVES  TODAY 5-7-05*

Marketwaves

There are a lot of beginners (me included) who are members of this forum. The charts that you have shown may mean something to the more experienced members but to me they mean nothing.

It would be good if you could attach an explanation to each chart so that we could understand better what you are trying to convey.


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