From my side I can only states that the bearish move on Nasdaq was properly predicted by the election of the weekly reversal of Mai 17th, the downturn move stopped at the border of another weekly reversal (June 3rd) which acted well as exit signal (not electing it) and now elected a new bullish weekly reversal that has been elected by more than 1% (risk of counter move is there). I have  now followed the reversals on Nasaq for one year and at least for me worked :-)

It is fair also to say that based on technical analysis alone the bottom of June 3rd would have been expected as it was exactly the minimum of March 8th. So no reversals would have been required to predict a proabability of bouncing.

Yes, listen at minute 2:20 "wait for the reaction back to the reversal... before taking any type of action".

You may need to look to the next reversal which is valid this week. This gives you an idea of the expected trading range. MA recommends in his video not to start trading with a closing > 1% but looking first what the market is doing.

Thanks :-) will take a look next week to the figures.

You could publish your setups here and we trade :-)

So lets summarize the week so far:

Friday      May 17th  Nasdaq Close: 7816.28. Election of the bearish Reversal
Thursday  May 23rd  we are trading currently around 7643

Summary so far we have 173 points. I am sure Traders would transform this movement in good cash  :-)



I am still in.

https://www.nasdaq.com/article/market-close-report-nasdaq-composite-index-closes-at-781628-down-8177-points-cm1151100

I tried but your settings seems not to allow pvt messages from newbies like me. Could you change that? then I can pvt message you. Would be great, many thanks for your support here!

@rosousa Many thanks for your input! By the way, do you have a link (eventually per PN) to the ECM Slack Groups ? I would be interested to join. Thanks

as mentioned I can not disclose too much information obtained via subscription.

However I can tell you that I checked IBD today an the Accumulation Distribution letter for the major indices are "D+", being A the best and E the worst.
So the picture is consistent. All big indexes have the same letter. On the week of May 6th, we had "B" in SP500 and Nasdaq.

Ok finally a weekly bearish has been elected on Nasdaq. Bitcoin remained over the weekly bullish (also elected)  and below the Monthly Bullish. There are still some days till months end :-)

Great!

I think the issue with the methodology you are proposing to study the quality of MA´s system suffers from the fact, that the results are influenced by the trading skills of individuals. So at the end you will still not now if the results are due to Socrates or do the superb  trading skills. Everyday in the markets there are plenty of winners that are using their own systems. Does technical analysis work ? Sure! but there are a lot of traders loosing money with that system. Is that a fault of technical analysis ?

The accuracy of Socrates can be only tested against the predictions the system is generating and not for specifics trades that are on the responsibility of individuals.  It predicted a high in Nasdaq in May. We have a high in May so far. Bitcoin reversals predicted an uptrend in Bitcoin: we are having a bitcoin uptrend.   No weekly bearish reversals have been elected so far. And the next high / low is supposed to be in June. We will see.

Between May first and today the system did not predict any specific weekly direction for Nasdaq as no weekly reversals have been elected (also not any monthly, daily I am not following). This is exactly what is happening now. If reversals are elected tomorrow , I will post it here and then we can see the results one week after (where we should consider that reversals act similar  as support / resistance levels) So far, I can not complain in any aspect about the prediction of the system as long as I am following it.



 

Waiting to see the real direction according to the weekly bearish  for Nasdaq avoided negative suprises :-). The market crossed the bearish reversal upwards and is touching even the bullish one. Lets see what the system states tomorrow for closing. It looks like a slingshot.

From my side I was long on QQQ following the elected weekly reversals from April 1st till April 25th. I was shaken out at the beginning of May, but closing winning trades ( I did NOT wait till a bearish reversal has been elected!). Since that time I am out, so far we have neither elected a new bullish reversal nor a bearish one on Nasdaq, so I will wait and see what is the closing on Friday. If it is below the bearish one (what I expect) I will go short, looking also for the 1% Rule.  We will see :-)

Yes, BIDU looks quite bearisch. In the GWT is everything red.  I think the market is expecting negative earnings on Thursday, the revisions are negative. On the other side it was the 5th bearish day in row, a small reaction would not be surprising.

I see the point, however there are some ethical concerns to publish data available only via a subscription basis. However I can tell you my business case, that I think is easily replicable:

The Plus Membership costs 55$ per month and with this level I can purchase any detailed report for 2 credits. 10 Credits costs 27 USD, thus a detailed report costs 5.4 USD. You will need the Detailed report to get the reversals (Arrays are not included, however turning points with monthly accuracy are mentioned together with a variety of support /resistance levels).  Credits can get cheaper if purchased via bulk, but for me the 27 USD is a reasonable investment. And yes, I traded such reversals (with exception of yesterday, bad decision to wait till today, would have been a profit simply  over night)

Depending on the charts, it may not be necessary to purchase every weekly report, so we are talking about around 60-70 USD (55 $+ some reports). You will need just one trade earning this amount to break-even, the rest is pure profit. And purchasing reports on single markets allow me also to take a closer look to other markets as well.

Critic point of the Plus Membership is that the detailed reports included in that level are at least for me quite useless as I do not trade such markets (Global MSCI All country World $ index, Global MSCI Emerging Markets $ Index, Global MSCI $ index, Global S&P Global 100 Index, Global S&P Global 1200 Index).

So the Plus membership would make sense only by purchasing reports on top, or investing 15$ additionally to get a regular detailed report of one market.

The reversals are only available in the detailed reports, not in the summary one. And it is not recommended to trade only based on GMW comments only.

Corrected (April 27th)

01.04.2019 weekly bullish:4236.39: closing: 4904.12  ->  elected
27.04.2019 weekly bullish:5559.27: closing  5599       ->  elected
03.05.2019 weekly bullish:6418.76: closing  6438.7    ->  elected

Closing means friday close quote according to tradingview

Interesting thread. my humble contribution to Bitcoin is the following:

01.04.2019 weekly bullish:4236.39: closing: 4904.12  ->  elected
23.04.2019 weekly bullish:5559.27: closing  5243.29   ->  elected
03.05.2019 weekly bullish:6418.76: closing  6438.7     ->  elected

So the current Bitcoin Rally was predicted and confirmed.