IFTA London - Robert R Prechter - Socionomic Theory: An Alternative to EMH & a Foundation for TA

[@Fernandolunatoro1]

Prechter is way ahead of his time. The STF is not only going to change economics but also psychology, and the social sciences. Once you underhand the EWP and STF, it will give you a sight into the future like no other!

[@JustinGreen93]

It's not really the socioeconomic mood of the masses. But rather those bringing the highest volume to the market whose outlooks matter

[@lautaroparada950]

Amazing presentation!

[@mahdisheykhh]

amazing!!

[@anonlinesol]

Social pressures toward global phenomenon, a rational take on your perspective. Make a good choice.

[@authenticpassion]

amazing talk!

[@MCLthree000]

this is very interesting. Good stuff.

[@kaiyusun9222]

Great

[@lgmnowkondo938]

to say our social mood is currently negative is an understatement....yet, the market remains at or near all time highs. When will this thing turn around to the downside?

[@studentofthegame.]

Brilliant!

[@DegreesOfThree]

Events in the real world like terrorist attacks and virus outbreaks definitely affect mood. Social mood can affect social actions, and social actions can affect mood. It doesn't have to be one or the other. It's more of a feedback loop where each influences the other simultaneously.

[@amusinglover]

It about how the masses interpret the news. The virus was out there, people were dying, yet the market was going up to the top. Then it fell. Now it is going up again. Yet the virus is still out there.

[@DegreesOfThree]

amusinglover Because there was more uncertainty about the death rate and how the FED and government would respond. Now we have more certainty and the markets are responding to that real world feedback.

[@amusinglover]

@@DegreesOfThree It will be interesting to see the markets crash even after the virus is gone. We may find a new "reason" then. There is always a reason.

[@DegreesOfThree]

amusinglover The virus will never be gone. Just like the flu and common cold, we're stuck with it. But Prechter has been predicting a triple digit price on the DOW for 20 years, so even if there was a crash, it's too late for the Elliott Wave model to salvage any credibility.

[@amusinglover]

@@DegreesOfThree I hear you. But our inability to recognize the waves before the fact does not negate many of the presented observations. As it stands, there is nothing else that explains the investor behavior imho. Also, the wave study may not have as much predictive power as we would like, but after they form, they do seem to explain what happened.

[@DegreesOfThree]

Most department stores have permanent 1/2 off signs on a lot of merchandise. It doesn't necessarily help sales, and high prices of certain products doesn't necessarily hurt sales. The quality of the product matters. As TVs and computers got cheaper, they also got better.

[@indanthrone]

Please post more

[@DegreesOfThree]

He says war and stock market performance are not correlated at the beginning of the video, but then at 20:38 he says that wars tend to break out towards the end of bear markets. Which is it?

[@user-w8s9ja034]

Does horse drew the cart or vice versa? War can be caused by the market trend.

[@Stcomdoc]

The latter.

[@Novacasa88]

Id argue the extreme view of external or internal is pretty silly. Also selecting one condition and saying hah that didn't reliably do something is really naïve as there are always thousands of factors playing into what develops. Its not that EMA is a complete failure its that trying to pin things to a very few select conditions is really flawed. And to claim the chicken egg thing isn't circular is bizarre imo. The thing I agree on is the irrationality and herding tendencies. But acting like two systems that reflect the exact same system is a convenient way to brush off not having enough information.

[@ontopofmygame]

And people pay for that!

[@janreichenbach265]

Robert Prechter has to be one of the all time greats in terms of market timing and presenting profitable setups .... NOT ! He bascially became a perma-bear for US Stocks after the crash of 1987, warned endlessly of a big bear market. Had an investor followed the advice he gave in his Elliot Wave newsletter, he / she would have lost her last shirt. How this guy can still make predictions and get accolades for it is completely anathema to me. I think Robert Prechter has zero, read, ZERO, credibility as a market analyst and feel downright sorry for people who follow his advice !