Regardless if his trading system is a sham or not his knowledge on economic history and current macro economics and politics is gold.
I could agree with this.
but this is beyond my comprehension;
Armstrong is worth an absolute fortune he doesn't need the money, you clearly know nothing about him. I can understand your criticism of ask-socrates it does need a lot of work still and can be confusing. The most likely reason you and others are not having success is because you were day trading and not playing more strategically like in line with the ECM. we already have all his major predictions based off the ECM(business cycle) so by 2024 you are going to realize your mistake and you would be a fool to bet against the ECM.
the next wave is 2020.05 to 2028.65, the peak of that wave will be 2024.35(major turning point) the top and bottom of each wave is where the markets tend to make highs or lows so we have a commodity boom from 2020(low) with a high in 2024, agricultural boom from 2020 with a high in 2024.
Armstrong is also calling for a equities to breakout from 2020 with a temporary high in 2024@MA_talk
The ECM is probably the best way to trade, in line with the business cycle. There is also no need to argue about it not being accurate to the day because this is not going to help you with your trade. Each market has its own unique cycle so it often will not line up perfectly with the ECM so for example the Dow Jones may make a cycle low in December which looks likely based off the monthly array since we also have a directional change in January.
https://www.armstrongeconomics.com/uncategorized/what-kind-of-trader-is-trading/The Dow already broke out as I've shown, Dow 27K has been resistance for 1.5 years and broke out on July 12, 2019. I added and opened positions 1.5/2 weeks prior to this. Does MA or you know the definition of a breakout? Well just to clarify;
A breakout refers to when the price of an asset moves above a resistance area, or moves below a support area. Breakouts indicate the potential for the price to start trending in the breakout direction. For example, a breakout to the upside from a chart pattern could indicate the price will start trending higher. Breakouts that occur on high volume (relative to normal volume) show greater conviction which means the price is more likely to trend in that direction.
I also did mention that the Dow was approaching overbought and is now consolidating and forming a "Flag" on the weekly chart which is preparing for a move to a higher level, probably on Wednesday, Fed day. Please, can you tell me how MA is gonna reconcile this on 1/2020? Same goes for the S&P, broke 2965 in July also quite the resistance and Nasdaq making new highs? I know I asked this before but I'll ask again, did the reversal system print 27k or there about, as a bullish reversal?
Socrates reversal system is nothing more then a confirmation system (If it catches the move) and waiting only makes traders lose opportunity. I remember after the Dec carnage on his public blog he stated that Socrates generated a bullish reversal some 20% above the bottom and how he never seen such a large gap, again does this number exist? Not sure if he was trying to promote Socrates but the tone was of an anomaly. I searched for this on his blog but can't seem to find it, maybe someone can recheck and find it. But back to the point, if you do exactly as he states, trade by the number, Socrates would have you wait for that bullish reversal to be elected before you enter a position which would be 20% from the bottom, WTH! Granted, if you are a buy and hold you can wait it out but day, swing and short term trading can only hurt you. FWIW I'm not to confident about his long term calls either.