March 25, 2017: New comments S&P500
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In this part, I will publish articles about my personal experience with long-term trading techniques, applications and tools.
The first article is about a long term, low risk profitable trading with the SPY, the S&P500 tracker.
If you do not have the time tracking many stocks to spread your risk, you can use an ETF (Exchange Traded Fund) like SPY, a tracker based on the S&P500 index. That way your risk is spread over 500 stocks. Of course you still need to apply money and risk management, meaning you would also use an initial and a trailing stop.
Did price reach a low for wave 3 on November 21, 2008? Looking at the next weekly chart, apparently it did. At that point we can ask the question, up to what level will price react to complete wave 4?
One day later, March 10 we have a confirmation of the turning point with a big white candle making up some kind of morning star candle pattern with the previous candles. Our buying price at the opening would still be OK. We can expect a first resistance at the level of the last exhaustion gap down.
September 2, 2009. Looking at the S&P500 semi-logarithmic monthly chart since 1957, my Elliott count gives me a long term top for impulse wave  in 2007. This top was reached with a Fibonacci projection from the start and end of wave , exactly at the 1794% target, as did wave  already before.