Waves.India - Minor corrective structure up

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Michesan Anna-Maria, the columnist for the WAVES.INDIA weekly and Head of India Research. Anna discovered her interest of markets immediately after completing her graduate studies in Economics. She followed it up with post graduate studies in corporate finance. A host of research work in behavioral finance, option strategies and quantifying market sentiment followed. Anna covers Indian equity and combines Elliott, Time Fractals and Time Analytics to deliver accuracy across time frames. To review some of her work, check out the annual India accuracy report 2009.

India Accuracy Report 2009
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‘Performance cycles’ is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.


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  1. Jose
    Posted 24 June, 2010 at 05:19 | Permalink

    Hi Anna, Nice stuff…Have you not changed your count in a span of just a week (Nifty) ? So gives you a fear if the EW is a science or a feel.

  2. Posted 24 June, 2010 at 19:07 | Permalink

    Thanks for the post Jose. This is a free blog which carries 1 case from an average 15 cases published twice a week on Waves. So what you see every time is less than a tenth of what paid members subscribe for.

    Regarding your observation…what you are calling as a changing scenario is matter of interpretation. We labeled the move up as a B wave, which was expected to move up to 5,300 levels above 5,150. Elliott waves seem very clear when it comes to impulses. Things get tricky when it comes to corrective structure, both in terms of price form and time. Nifty moved from 5,400 to 4,784 and back since April. We got the move from 5,400 to 4,700 and then back to 5,150. What you are referring to is the move from 5,150 to 5,300, when we labeled the corrective as extending above 5,150, higher. B waves are the trickiest wave structures to comprehend. They can retrace 38.2%, 50%, 78.6% and even overshoot the previous high. No tool (including Elliott) or analyst is perfect. You have to compare what else is there on offer and how better precision that tool adds to your strategy. Lastly, great Elliott analysis might look poor in the backdrop of emotional control. B waves are known to spoil emotional control.

    To see better perspectives subscribe to Waves India. Best Wishes.
    Orpheus Research

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