Britain's Marks and Spencer: 5 Waves Up Marked the Spot

by Editorial Staff
Updated: April 08, 2022

It's always easy to blame the news for whatever happens in the markets. But that's not forecasting. That's simply retrofitting yesterday's news to today's market action.

Real forecasting attempts to predict the next move before the news, even without any news. Elliott wave analysis teaches that markets progress in a basic pattern of 5 in the direction of the main trend and 3 waves against it. Which means, knowing when 5 waves are done is very useful information. But how do you spot that moment?

Watch our European Short Term Update show you how he applied Elliott waves to a chart of Marks & Spencer plc during the stock's recent rally -- and the subsequent 46% sell-off.

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