Just a quick note on the form of the S&P 500 as being very similar to the DJIA in its wave form and current wave placement.
As Robert Prechter has noted many times, the Elliot Wave pattern applies not just to a single index or the stock market but to any mass social action. This shared subconscious effect, which I had described as "social-mass", and which Prechter, correctly I think, identifies as paleo-mentation-a fancy word behind the action of a herding impulse.
I will write again before the next completion of the minor wave sequence, which I expect to occur sometime later next week. Hopefully in that post I can include some Socionomic indicators as well. Though if you need a hint "The lazy song" has been in the weekly top tens for a while now.
A presto,
-W
No comments:
Post a Comment