I’ll be making a couple of changes to my daily post on PrivateTrader, beginning on the first Monday of the new year, January 3, 2022.

First, the title of the daily post. As it started out after the early pandemic crash in February 2020, Elliott wave analysis of the S&P 500 futures was about all that I was doing. That has changed with the passage of time, and I’m now using that post for other purposes as well, such as to let people know when i’ve posted an analysis of an options trade.

In recognition of that fact, I’m changing the name of the daily post from “SP500 Analysis” to “Trader’s Notebook”. The S&P analysis will still be there, posted on market days shortly after the market open and updated throughout the day as events warrant.

Second, I’m eliminating the degree names from my analyses. On the charts I don’t use names but subscripts that show the relation between the various wave degrees. Subscript {-8} is a degree larger than {-10}, and {-7} is larger than both of them. The subscript numbers are above and below Intermediate degree, which has the subscript {0}. In the write-ups discussing the Elliott wave analysis, I presently use the degree names and have taken to adding in the subscripts as well.

The degree names are traditional. They date from the early work on Elliott wave analysis by R.N. Elliott, who first described his theory in 1938, in “The Wave Principle”. He created the the degree names of Subminuette degree — my subscript {-4} — all the way up to Grand Supercyle {+4}. Robert Prechter in his 1978 book Elliott Wave Principle, co-authored with Alfred Frost, expanded the nomenclature up to Grand Millennium Degree {+7} and down to Minuscule degree {-7}, and later to Subminuscule degree {-8}. In my work analyzing even smaller movements, I added Bitsy degree {-9} and Subbitsy degree {-10}.

But no more. The degree names add nothing to the understanding of the relative wave positions within the fractal structure of the market movements. Up to now, where I would have written “wave 3 of Bitsy degree {-9}”, going forward I shall write “wave 3 {-9}”. For those wanting to correlate my subscripts with the historical wave labels, I have a list on the Analytical Methods page proving that correlation. I link to the page at the bottom of the daily post.

And so, onward to 2022.

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See the menu page Analytical Methods for a rundown on where to go for information on Elliott wave analysis.

By Tim Bovee, Portland, Oregon, December 27, 2021

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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