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TDI Podcast 103: Elliott Wave Theory in Action

April 5, 2009

Guest: Corey Rosenbloom, Afraid to Trade.com and Andrew discuss technical analysis, Elliott Wave and a new way to look at the MACD indicator.

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Corey Rosenbloom

Corey Rosenbloom

Corey Rosenbloom is an independent trader who trades his own accounts and focuses on intraday patterns in index futures, but also trades sector ETF positions. He is currently working with a team to develop a hedge fund which focuses on broader trends in inter-market relationships and equity market sector rotation strategies.

Corey founded and manages the Afraid to Trade.com site in late 2006, which provides daily analysis and education, often from a psychological basis, designed to help traders and investors overcome fear from trading losses through solid education. He offers limited mentorship and consulting opportunities and is working on expanding the website as an educational resource for traders. Check him out for trading lessons and mentoring opportunities

macd310

Another chart from Corey that provides an Elliott Wave count. Here, the 5th wave of the sequence was completed on the March low. For now, that seems to be the most reasonable course unless the 5th count was really a sub-fractal of the larger leg down. According to Corey, it is a bit confusing as some of the pieces do not line up at these levels. That said, it really makes perfect sense as so much of these markets make no sense what so ever. I think…..

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ah-spx-elliott-wave

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Written by Andrew Horowitz · Filed Under Markets, PODCASTS, SHOW NOTES 

Comments

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16 Responses to “TDI Podcast 103: Elliott Wave Theory in Action”

  1. Afraid to Trade.com Blog » Hear Corey on the Disciplined Investor Podcast Discuss Elliott Wave on April 6th, 2009 12:25 pm

    [...] Horowitz of the Disciplined Investor interviewed me for this week’s Podcast entitled “Elliott Wave Theory in Action.“  In it, Andrew and I discuss the basics of Elliott Wave, how fundamental analysis ties into [...]

  2. Hear Corey on the Disciplined Investor Podcast Discuss Elliott Wave | Penny Stock Trading System Blog on April 6th, 2009 3:43 pm

    [...] Horowitz of the Disciplined Investor interviewed me for this week’s Podcast entitled “Elliott Wave Theory in Action.“  In it, Andrew and I discuss the basics of Elliott Wave, how fundamental analysis ties into [...]

  3. Sean on April 6th, 2009 11:01 pm

    Cuts off at about 43 minutes. Supposed to be 56 minutes, according to iTunes?

  4. Andrew Horowitz on April 6th, 2009 11:23 pm

    Checking

    Sent from my iPhone

  5. Stu on April 7th, 2009 1:06 pm

    Same here – looks like a corrupt file.

  6. Andrew Horowitz on April 7th, 2009 1:54 pm

    Should be fixed now

    Sent from my iPhone

  7. James on April 9th, 2009 5:49 pm

    What a great podcast!

  8. VPro on April 11th, 2009 12:26 am

    Andrew, nice to hear from Corey again. I've heard others explain the Elliott Wave theory and it always seems quite complex. Interesting that the amount of time Corey has spent with this yet the results are inconclusive to him as to where we are. I think because the theory is so complicated.

    I prefer to benchmark the volume at swing points, run fibs, and watch moving averages. The last time we had any volume on the way down was back on 11/21/08. The downtrends have clearly been broken and we have been accelerating up with good volume so I figure why complicate things.

    It's clear that there is still a lot of fear out there. I imagine it was like that in 2003 too, but I wasn't in the markets then. While there are still problems out there, perhaps pushing the markets down 55% from the 10/07 was too far. I for one have believe the rally is for real and that 3/6/09 was a major bottom. Look at the way be bottomed in 2003 on the monthly, weekly , and daily charts; it's a good case study.

    Looking forward to hearing C. Edward Griffin on #104! Thanks for getting him on Andrew, you have the best interviews.

  9. Andrew Horowitz on April 11th, 2009 4:27 pm

    :-)

    Question …..

    How far util reality sets in?

    Or, until the bs from above I'd uncovered by earnings
    A

    Sent from my iPhone

  10. VPro on April 11th, 2009 5:43 pm

    Andrew,
    Thanks for the work you put into the podcasts which I'm very thankful for.

    You've got way more market experience and resources than I do. Looking back at the market bottoms in 1987, 1998, 2000, & 2003, what was the market sentiment, news, and problems? I would expect there was a lot of fear, pessimism, and disbelief in the rallies each time. I know I saw that coming off the retracement we did in July/August 2006, and that was mild compared to this.

    I reiterate; study the monthly-weekly-daily charts in the years I mentioned above. Look at how the volume came into the swing low tests and approached the subsequent swing points. There's a lot to be learned.

    I expect unemployment will get to double-digits. I expect some bad earnings but also some upside surprises because the vast majority of people are scared and expect awful earnings. I do not believe it's armageddon and that a lot of this has been factored into the huge downdraft we had from October 2007.

    That said, all the money 401(k) money I put into cash in the summer 2008, went back to stocks beginning 3/10/09. I'm trading this rally and I expect it to hold, but I'm ready to adjust and change my strategy if things begin to change or fail at swing points. In the meantime, I maintain that we are working our way up to 943 on the S&P.

    Have a good weekend.
    James

  11. Andrew Horowitz on April 11th, 2009 7:29 pm

    Thanks, good stuff

    A

  12. doctord on April 12th, 2009 2:00 am

    Andrew, I enjoy listening to TDI as well as DH Unplugged. Today I stumbled across Jon Stewart episode from March 16 where they had short sell 'discussion'. Sorry to say but they made a complete fool out of you, obviously cutting many fragments out of context. Respecting what you are doing and your judgments I feel pretty bad for you.

  13. ted aguhob on April 12th, 2009 2:56 am

    hmm

  14. Andrew Horowitz on April 12th, 2009 11:58 am

    —
    It was okay, but good catch on the fact that they cut it up out of context
    Andrew

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  16. Supporting the Disciplined Investor Podcast Series | Afraid to Trade.com Blog on November 17th, 2009 3:20 pm

    [...] April 5th, 2009:  Elliott Wave Theory in Action [...]

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