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In my mind it carries more weight than a lot of traditional technical tools, because it encompasses everything going on in the market at any point in time. |
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Neal: Elliott has been accused of being more of an art than an indicator. |
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Nina: I would agree with you. That is a legitimate criticism. I've been working with Elliott for quite a long time. It's not so much that Elliott is complicated; it's that it requires a different way of approaching price data. It means you have to use logic, unravel a set of clues to come up with an answer, and many find that takes more work than they're prepared to do. However, I've found that approach very successful, and I have found other technical tools that help identify when turning points are about to arrive. There are times when Elliott is very clear and others when it is vaguemuch like any indicator. It is the price action that will prove the validity of the forecast. |
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Neal: Were you about to inform all your clients about the current bull market we are having? (The Dow was over 9000 during this interview.) |
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Nina: Exactly to the day. |
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Nina: Maybe to the hour. It's not difficult. |
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Neal: So is this market driven by low interest rates or by psychology? |
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Nina: It is purely driven by psychology. Markets are mechanisms to discount psychology. |
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