The Elliot Wave Factor

This is the August 9th updated of the USD Index Chart

• I've always grappled with whether the Elliot Theory really was as powerful in real time trading as it was in theory.
• Last November 2009 I can say that the Ellioticians nailed the bottom on the US Dollar index, had you listened to them, you would have caught the bottom and made a pile of money.

• As of this posting July 22, 2010 we'll have to see if they've called the correct bounce on the Dollar index once again, lets take a note that their intermediate top will be around 91 on the index next few weeks to months.
• The Bounce for the USD Index, meaning the end of Wave 2 and the beginning of a Strong Wave 3 was forecast on these charts at around 81.89 level, so we'll see how it unfolds next few weeks.

UPDATE: 81.89 the predicted turn was overshot, it actually overshot in a big way, getting down to about 80.40 or somewhere in that area. Shows use how difficult it can be to really catch a bottom. Certainly August 10, 2010 turn date was significant, it was predicted and cannot be ignored, when a turn is predicted on a particular date, you really have to see by price action if this indeed can be a turning point in the trend.