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Friday, July 17, 2009
Free Elliott Wave Principle
Thursday, May 14, 2009
Free Video and Elliott Wave Premium Access for Forex
Greetings,
Our friends at Elliott Wave International have just announced the beginning of their wildly popular FreeWeek event, where they've thrown open the doors to some of their most popular paid services to non-subscribers for one week only.
You can access EWI’s intraday and end-of-day Forex forecasts right now through next Wednesday, May 20.
This unique opportunity only lasts a short time, so don't delay!
Learn more about EWI's FreeWeek here.
This video features Elliott Wave International Senior Currency Analyst, Jim Martens, using Elliott wave analysis to forecast the U.S. dollar's near-term moves.
Now through May 20, you can access all of Elliott Wave International's intraday and end-of-day Forex forecasts completely free. Access EWI's FreeWeek.
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Saturday, April 25, 2009
Think That Central Banks Move the Markets? Think Again
April 23, 2009
By Mark Galasiewski
The following is excerpted from Elliott Wave International’s Global Market Perspective. The full 120-page publication, which features forecasts for every major world market, is available free until April 30. Visit Elliott Wave International to download it free.
Conventional wisdom says that central banks can influence or even direct financial markets and the macroeconomy. The very existence of Elliott waves challenges such assumptions. For if markets responded to every central bank directive, how could Elliott waves exist? Parallel trend channels, Fibonacci price relationships, the similarity of form between waves of different sizes and time periods—none of that would be possible. Central bank decisions would have to coincide perfectly with turning points in Elliott waves, and we know that just doesn’t happen. But even without using waves, we can expose the conventional wisdom for the fallacy that it is.
Take, for example, this assertion in a recent article in a U.K. economic weekly: “Part of the aim of central banks in driving down interest rates is to encourage a greater risk appetite among investors.” Two key assumptions underlie that statement: a) central banks determine interest rates; and b) lower interest rates can increase society’s appetite for risk.
To see how the first assumption is false, let’s take a look at the daily chart of Australian interest rate data. It duplicates a study that Elliott Wave International has often done with U.S. interest rate data. It shows how movements in the cash target rate set by Australia’s central bank, the Reserve Bank of Australia (RBA), appear to follow those in 3-month Australian Treasury Bills. After decisive moves up in T-bills from 2006 to early 2008, for example, the RBA faithfully raised its target. T-bills have since led the RBA during the financial crisis of the past year. In fact, the record indicates that the RBA almost always follows T-bills over time.
The proper conclusion to draw is not that the RBA has orchestrated the decline in rates since the early 1980s—but that it’s been riding it. During good times, central bankers look like geniuses; during bad times, they get tarred and feathered. Closer to the truth is that their interest-rate decisions are not proactive, but reactive, and that they continually follow in the footsteps of the market for lack of any other useful guide.
Now let’s look at the second assumption: that lower interest rates increase society’s appetite for risk. A simple glance at the weekly chart shows this assumption to be false. After the 1987 crash, the ASX All Ordinaries actually rallied for two years on rising rates and then sold off through 1990 on falling rates. Stocks then rose in 1991 on continued falling rates and sold off in 1992 on even lower rates. Continue following the chart to the right and you will see that there is no consistent correlation between the direction of interest rates and that of the stock market.
The myth of central bank potency is so pervasive that conventional analysts can’t even imagine a better explanation for price trends: that the market is the dog wagging its central bank tail, not the other way around.
For more information, download Elliott Wave International’s FREE issue of Global Market Perspective, available until April 30. The 120-page publication covers every major world market, global interest rates, international currencies, metals, energy and more.
Mark Galasiewski is the editor of Elliott Wave International’s Asian Financial Forecast and member of EWI’s Global Market Perspective team covering Asian stock indexes.
Monday, April 20, 2009
FreeWeek: Elliott Wave GMP
Greetings friends,
Long time no see.
Once each year or so, our friends at Elliott Wave International will offer free premium elliott wave access to their reports and analysis. So this is the time again.
This time, they are offering the public more than 100 pages of free analysis and forecasts on every major world market. EWI is giving away one month of its most popular global analysis publication, a 120-page "little black book" of investment insights called Global Market Perspective, which includes EWI's three regional publications:
- The U.S. Elliott Wave Financial Forecast ($19/month value)
- The European Elliott Wave Financial Forecast ($29/month value)
- The Asian-Pacific Elliott Wave Financial Forecast ($31/month value)
PLUS, the 120-page book includes analysis culled straight from EWI's professional-grade Specialty Services, each of which is valued at $199/month. This means you also get analysis and forecasts for the following global markets:
- World stock markets (China, Japan, Korea, U.S, France, Britain and more)
- Global interest rates (Australia, Europe, Japan, U.S.)
- International currency relationships (U.S. Dollar, Euro rates, Swiss Francs, Japanese Yen and more)
- Metals and Energy (Crude Oil, Gold, Silver, Natural Gas)
I would greatly recommend this because, in my opinion, such proprietary materials could hardly be accessed with no charge, so make good use of this opporunity to learn from the pioneers who brought the concept of elliott wave theory to the world.
Saturday, April 11, 2009
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