As I mentioned previously, Elliott Wave Theory works well when...

You are starting to be more like Stoner every post.

The time to consider using Elliott Wave on SMN is when FAA approval has been granted for the APB & the market is flying with every man & his dog trying to get on board. Smart Alecs who denigrate the E.W. Theory obviously are lacking the skill to interpret it effectively. It gives you an expected path to follow & enables you to anticipate the length of movements (thus not selling too early) & understand corrections & where they are likely to reverse.

As I mentioned previously, Elliott Wave Theory works well when it is accompanied by volume & numerous traders. It is an art, not a science but a means to predict the future movement of stocks & indices by those who are accomplished at using it. It takes years of experience to get a good grasp of how best to use it. I first started using E.W. & Fibonacci numbers in 1986 on the SPI (share price index) & after 37 years of experience, I know when to use it with a certain degree of confidence.