MTP nails high

[Steve Griffiths]

Hi Everybody,

Although I do not like trying to pick the end of a Wave 5 swing, MTPredictor managed to automatically nail the recent high in the S&P perfeclty. As you can see from the chart the recent high reversed (with a red, sell, bar) right in the minimum Wave 5 WPT resistance zone.

The S&P has declined sharply since.............

Thanks

Steve

[Steve Griffiths]

Hi Everybody,

Just to confirm that this high as found "at the time" using the "automatic" routines in the MTPrecitor software. the "maunal" setting in the picture just referes to manullay choosing where to apply the "automatic" analysis in history. We are changing the wording in the next MTPredictor upgrade to avoid possible confusion.

These autoamtic routines are great for analysts who struggle with Elliott wave analysis, because the software does the work for you. MTPredictor has advanced automatic Elliott Wave and trade secection routines that are based on my own experience as a private trader, not just theory from a book. In this way the anaylsis is perfirmed and then placed on the chartt for you, if and "only if" a valid wave count is there.

This makes trading Elliott Wave very easy indeed.

As you can see, these routnes enabled you to nail the recent high perfectly with just the click of a button.

Thanks

Steve

[Steve Griffiths]

Hi Everybody,

As a follow up on this post, you can see below how the S&P dropped nicely from the minimum Wave 5 WPT to find support at the Wave 1orA WPT. This is the "first area" where support (or resistance) should be anticipated following a completed Wave 5 swing. So far the WPT's have done a great job of nailing the turns in the S&P!

So lets see if the S&P can rally from here.

Steve