The good news for Best Buy bulls is that Elliott Wave analysis of Best Buy suggests that the tide could be changing.
FORBES: Best Buy May Soon Be A $20 Stock If Elliott Waves Are Right
Without invoking the esoterica of Elliott Wave analysis, the rally from March 2009 to April 2010 was followed by a correction to June.
The reason why some of us are enthusiastic users of Elliott Wave analysis is because it allows us to take into account new information as it becomes public knowledge.
But stock market investors do not appear to be impressed with the wave of research analysis that swept through Wall Street on Wednesday.
Within days of the first wave of media coverage, the more responsible press weighed in and contextualized analysis emerged.
FORBES: Scientists, Journalists Challenge Claim That GM Crops Harm The Environment
And I have today directed the appropriate people in our federal government to expedite the analysis we're required to do about the effects of the recent heat wave on the need for emergency assistance under this program.
One of the most effective tools for timing the trade is Elliott Wave Analysis.
FORBES: Elliott Wave Analysis Of The 10-Year US Treasury Note
The growing acceptance of open-source software, especially when it is supported by a dedicated vendor, is another way by which the big data wave is different from previous surges of investment in the collection and analysis of data.
Avi Gilburt is author of ElliottWaveTrader.net, a live Trading Room featuring index and stock wave analysis for active traders.
It is the ability it gives a few large firms to control the market for short periods of time, sucking investors into positions, or driving them out, not based on careful thought or analysis, but in emotional reaction to a sudden temporary intraday rally created by a wave of buy programs, or a sudden intraday decline created by a wave of sell programs.
That is why the next wave of environmental policymaking will need to employ commonsense tools such as cost-benefit analysis, and make greater use of flexible, market-based instruments such as emissions-trading, rather than the tired command-and-control approach favoured by most greens.
In my experience, Elliott Wave analysis works best to anticipate market turns, and if you are interested to see more examples of this, visit my other blog www.wavetimes.com.
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