Paul Tudor Jones and Peter Borish used the 1929 Dow Chart to project the1987 Dow Chart, thus predicting the 87 Crash, according to that Documentary on him. Is that Elliot Wave? Wouldn't seem too reliable to me, particularly with the Volatility we've experienced lately. Where's Mr EW @wxytrader
The trading world hadn't changed much between 1929 and 1987. People were still phoning in orders back then and reading yesterday's stock closing prices in the papers. Just 10 years later we were all using the internet to check prices and put on trades.
Thanks. But is that comparing of Charts from different Cycles reliable? Anyone know the name of it, so I can Google it please lol? We'll all make a fortune.
In the documentary they just overlay one period chart over another, not sure if Eliot Waves or Cycles had anything to do with it. Although PTJ did/does use EW in his trading, I don't think it was specifically used when comparing periods. Timestamped:
Yes, that's the Documentary I was referring too. Google AI tells me Elliot Wave does that comparing, which PTJ is said to have used. They say Economic Cycles have become flatter, less volatile over the Years. Better Government intervention etc. Bernanke did a thesis on it before becoming Fed Chair.