SMN - Chart, page-884

Elliot wave is a mass psychology indicator more relevant to indexes and commodities. Large cap businesses, hmm maybe, but really you would need to establish that a trend or wave is in progress.
Small, even some large caps, would be and are too easily controlled by a few hence why they are never consistent or great for Elliot.
Remember it's a mass psychology indicator. You need a large exposure to the public and it's opinion ie 'the herd' to use it with any high probability.
Nothing in trading is accurate 100% of the time and Elliot is no exception.
Most who knock it are too lazy to put in the research and homework needed to effectively screen for good set-ups. Even then it's constant improvement in your analysis and getting consistent with what set-up you like looking for.
In the end use what works for you but to knock Elliot Wave is a little bit ignorant. It has been responsible for predicting and helping some of the greatest trades ever made.