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How Sid Norris of ElliottWavePredictions.com Correctly Forecasted Market Direction Both Before and After the Brexit Vote

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Jul 092016
 

How I Correctly Forecasted Market Direction Both Before and After the Brexit Vote:

Many traders have been surprised by two events recently.  First, the surprise Brexit vote on Friday, June 22 (overnight, before the US markets opened), and second, the surprise stock market bounce starting on Tuesday,  June 26.  Here are the EXACT communications I sent out to paid subscribers just prior to the two events:


From the mid-week (June 20, 2016) edition of EWP Screenshots: 
First, here’s my short-term wave count and projected market direction prior to the June 23 Brexit vote.  The following screenshot was included in the Wednesday, June 20 edition of EWP ScreenShots.  Notice that based on the Sentient Trader (Hurst) “composite line” (CL), I was projecting that price would move down through late Monday, June 25 and then bounce from there.
SPX 60m 6-22-16

Supplementary email to EWP ScreenShots subscribers sent Monday, June 27, at about 5PM (CDT):
“Dear EWP ScreenShots subscriber,
        During the weekend {June 26} “Counts” webinar, I stated that I was expecting a relief bounce soon in the SPX, but was unsure whether a short-term bottom was “in” yet or not.  In my labeling, I left room for additional downside. We got the answer today, as further downward movement ensued.  (See the attached 90-minute updated chart).
        I’m still not quite sure if the knee-jerk downdraft associated with the surprise Brexit vote result is finished yet, but a tight cluster of Fibonacci targets was hit today (1999.2 – 1999.8), and at least so far, is being respected.
        Hurst widened its 20-week cycle trough window a bit today to accommodate for the lower prices, but as you can see on the chart, the composite line is still showing June 24 as the projected bottoming day. Based on the Hurst analysis, I’m still expecting a bounce quite soon, and IF wave 1 green is finished, the expected corrective green wave 2 should rebound to the 2049-2067 area next, through mid-July.
        IF price continues strongly to the downside, the next lower Fib target is 1929.6, where pink wave 3 would equal pink wave 1 times 2.618.”    {The following screenshot was attached}:
SPX 90m 6-27-16

Supplementary Email to EWP ScreenShots subscribers sent Thursday, June 28, at about 5PM (CDT):
“Dear EWP ScreenShots subscribers,
        The SPX has continued ripping higher for a third day, and has now retraced over .786 of the “Brexit drop”.  I’m very happy to have predicted this bounce (in the Monday night email to subscribers), and am also happy to have surmised (in the June 26 “Counts” webinar) that the coming green wave 2 retracement would likely be deep.  As a reminder, I expected the bounce to be deep because of the degree (20-week) of the trough expected in late June (June 24 (CL).
        The composite line projected retracement top of July 15 has hopefully prevented early entry into short positions.  Please note that the suggested composite line peak on July 15 is still in place, but the subsequent downward movement is not projected to be strong (initially) from that date.  As a matter of fact, the composite line is giving the appearance of a “double top” now, on July 15 and on August 4.  (See the attached screenshot of the short-term Sentient Trader analysis).
        So considering the size of the bounce so far, and the fact that it has occurred very quickly, and very much in a straight line, I’ve had to move the alternate black X? label back into the future.
        As I mentioned in a quick update email a couple of weeks back as a caveat to calling a top , the pink wave 5? never hit a known Fibonacci target, and was inordinately shorter than a normal 5th wave.  If the Brexit drop actually ended pink wave 4?, then we now have a target for the end of pink wave 5? (and therefore black X?) at 2177.87.  (See the attached updated SPX 240-minute chart, with the projected main and alternate counts.)
        Admittedly, this last three-day up-burst is large enough now to suggest that the alternate is easily as likely as the main, if not more likely at this point.”   {The following screenshots were attached}:
SPX Sentient Trader Hurst with composite line - daily - 6-30-16
SPX 240m 6-30-16

While some forecasting services send out a lot of marketing material bragging about their “calls”, did they really “call” the drop ahead of the Brexit, AND the strong bounce that followed two trading days later?  We’re their calls specific enough to be tradeable?  Were they correct regarding forecasted direction from a specific date and/or Fibonacci target?
The bottom line:   My unique system of utilizing a combination of Elliott Wave and Hurst cycle analysis did a fantastic job of forecasting market direction  in the days surrounding the Brexit vote.  Did your current forecasting service catch both the down and up moves recently in such a way that could be traded profitably?
Please join me for my Weekly “Counts” Webinar, where I go over all of my Elliott Wave counts and associated Fibonacci price targets for many of the world’s major stocks markets, commodities, currencies, and bonds.  Hurst cycle analysis is considered on almost all items.  A link to the recording of the webinar is emailed to all “Counts” webinar subscribers immediately afterward, whether they were able to attend “live” or not.  Alternatively, my EWP ScreenShots service provides updated multi-timeframe analysis of the SPX, DAX, Gold, Oil, TLT, US$ (DX), & EUR/USD currency pair twice each week.  All “Counts” webinar subscribers receive EWP ScreenShots as a free bonus.  Many traders and investors have found my analysis quite profitable.
Aug 122015
 

The video clip below contains highlights from my Weekly “Counts” webinar from three days ago (August 9, 2015).  Included are portions of my analysis of the Dow Jones Industrial average, GDX, and the US Dollar Index.  ALL of the calls in this video were contrarian against the so-called “consensus trades”, like long dollar, and short gold and the miners.  Maybe that’s why they worked so well.  (-:

Please join me for my Weekly “Counts” Webinar, where I go over all of my Elliott Wave counts and associated Fibonacci price targets for many of the world’s major stocks markets, commodities, currencies, and bonds.  Hurst cycle analysis is considered on almost all items.  A link to the recording of the webinar is emailed to all “Counts” webinar subscribers immediately afterwards, whether they were able to attend “live” or not.  Alternatively, my EWP ScreenShots service provides updated multi-timeframe analysis of the SPX, DAX, Gold, Oil, TLT, US$ (DX), & EUR/USD currency pair twice each week.  All “Counts” webinar subscribers receive EWP ScreenShots as a free bonus.  Many traders and investors have found my analysis quite profitable over the years.

Sid Norris
http://elliottwavepre.wpengine.com

A Recent Testimonial from an ElliottWavePredictions.com Subscriber

 LIVE Webinars, Screenshot Offerings, & Educational Movies  Comments Off on A Recent Testimonial from an ElliottWavePredictions.com Subscriber
May 092015
 
I just had to share the following testimonial, received yesterday from one of my Weekly “Counts” Webinar subscribers:
“Sid,

I wanted to thank you for the incredible research and analysis that you provide by giving you a brief history on me and how my account is exploding to the upside since I started following you and attending your webinars.

After the economic meltdown in 2008, I had to pretty much start over. I took a corporate job after many years of self-employment in 2009, and started saving the maximum amount that I could in my new 401K. Then in 2013 I was hired as the Executive Vice President of a top real estate company in California, but they didn’t offer a 401K program. At that time I had to convert my 401K to an Individual IRA which only allows me to save $6500 per calendar year, as I am over the age of 50. As time went along I became increasingly frustrated with the menial returns I was receiving buying and holding “the recommended” diversified portfolio of mutual funds. That’s when I started subscribing to your webinars and screenshots at elliottwavepredictions.com.

On February 6, 2015 I moved my portfolio from Fidelity to E-Trade and decided to look for entry and exit points on stocks, ETF’s and indices based upon your analysis. My strategy was to use 10% of my portfolio to trade options, hold 20% in cash (to add to positions if needed) and buy value stocks that pay dividends with the remaining 70%.

The day I started the E-Trade account (February 6, 2015) my account equity was $37,000.
Today (May 8, 2015) my account equity is $50,200.

I’ve deposited $1500 of additional funds during this time so subtracting that, I’ve managed a gain of $11,700 (that’s 23.3%) in roughly 3 months.

And the best part is, I know now that I don’t need the market to continue to go up to make solid returns. For instance, I’ve made some very nice winning trades recently shorting IBB (the Biotech sector ETF) using put options, as well as trading long IBB using calls. All trades were based on the analysis you show in your weekly webinars.

Following your Elliott Wave analysis and looking for entry end exit windows on securities based on Hurst Cycle analysis has been a game changer for me and my retirement. Thank you for all you do Sid, and keep up the good work!!

Kel N.”

 —
Kel subscribes to my Weekly Counts Webinar, which includes twice-per-week EWP ScreenShots.  Click here to read more testimonials.
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