I have now been writing for Seeking Alpha for approximately 6 years. And, I can honestly say that not much has changed in the readership base. Yes, that means you.

You see, the same folks that have commented on my articles that Elliott Wave analysis is akin to voodoo are still making the exact same comments they made years ago.

Do you think that the accuracy of our underlying analysis would open their eyes? Nope. They have one way of thinking, and have not changed in years. Moreover, when some of these commenters offer an opinion about a specific methodology, do you think they have the in-depth knowledge or understanding of that methodology in order to provide a reasonable and informed opinion? Again – nope!

When someone comments negatively about Elliott Wave analysis, my first challenge to them is to enquire about how deep their knowledge of Elliott Wave runs. And, the significant amount of time they offer no answer, which means it is likely as deep as a cereal bowl (and I am still probably giving them too much credit). For this reason, I was asked by the editors at Seeking Alpha to write the following six-part series about market sentiment and Elliott Wave analysis to pull back the curtain to explain our methodology:
•This Analysis Will Change The Way You Invest Forever - Part 1
•This Analysis Will Change The Way You Invest Forever - Part 2
•This Analysis Will Change The Way You Invest Forever - Part 3
•This Analysis Will Change The Way You Invest Forever - Part 4
•This Analysis Will Change The Way You Invest Forever - Part 5
•This Analysis Will Change The Way You Invest Forever - Part 6

This leads me to a question for all of you who choose to comment on articles: Are you here to learn and expand your thinking and understanding of markets, or are you here simply for confirmation bias?

While my analysis will not always be correct, as that would simply be an impossible level to achieve, our members and followers have clearly recognized that we are right a heck of a lot more than we are wrong. That is why within the last seven years we have almost 5000 total members in our services (with over 500 money manager clients), and over 39,000 followers on Seeking Alpha alone. Moreover, our Fibonacci Pinball methodology, which I personally developed years ago, provides for a much more objective framework around the traditional Elliott Wave analysis, which allows us to, rather quickly, identify when the market is not moving within our primary expectation and appropriately adjust. In fact, our members have told us it is the most powerful tool they have used for correct market direction analysis. Yet, one has to understand that the market is non-linear, and understand how to apply a non-linear methodology within market analysis.

This brings me to my final point. Back in 2015, we were quite bullish, until the market reached the 2100 region. We then turned somewhat bearish, expecting the market to drop down to the 1750-1800 region, to be followed by what we termed a “global melt-up” to complete the 3rd wave off the 2009 lows. Our minimum target was in the 2600SPX region for that rally from 1800, and we pounded the table during the fall of 2016 that it did not matter who was elected, as our target and expectation remained the same.

As we now know, the market followed through quite well on our expectations. And, while many of you will come up with “reasons” for what occurred, we did not care about reasons in the same way we did not care about the election results.

If you understand what Alan Greenspan and Bernard Baruch knew quite well, you would understand how simple the market really is at its core. During his tenure as chairman of the Federal Reserve, Alan Greenspan testified many times before various committees of Congress. In front of the Joint Economic Committee, Greenspan noted that markets are driven by “human psychology” and “waves of optimism and pessimism.”

To further expound upon Mr. Greenspan’s understanding of the markets, allow me to present a few more of his quotes: