Laundry seems to be developing some of his T-Theory concepts as he goes along, especially regarding his "nulled echo" concept.
http://www.ttheory.com/nulled-echo-lows/ (these are various dates where he explains it) The late April top caught him by surprise and he later explained it as a one month "echo" from the expected late May peak, with the reason for the one month being that was the distance between the previous double bottom in the NYSE AD line. That's also why he doesn't expect a significant bottom until about December 10th, 3.5 months after the late August peak, which will be the "echo" of that peak. Anyway, by late April I was following him so closely (I was up about 13%, why not?) that I got blasted and lost over 13% in May, dropping from something like #13 to #300 in the tracker in the process. Ow. I'm fighting my way back up just trying to catch bounces, which will be the name of the game from now to 2016 basically. Like CWRS says, I'm about ready to pull the plug on this rally and the current plan is to bail back into G/F tomorrow if it looks like that 1085 level will be approached. I'm crossing my fingers it hangs on for one more day tomorrow.
I can't really explain Laundry's stuff, he's hard enough to listen to as is. Being a technical type myself probably helps, but I'm no statistics guru. It took me probabably 6 to 9 months of following every one of his updates to start believing in his stuff and to somewhat understand it. Basically everything he does boils down to his discovery back in the 70's that important market peaks (bottoms are tougher) can be predicted using Advance Decline line and MC Oscillator data, with a little of Richard Arms TRIN some TA stuff thrown in. I can only recommend to go through his tutorials on the ttheoryfoundation.org site (uh, which seems to have disappeared, he did say he was going to redo them so I guess has deleted them temporarily), and just keep up with his Wednesday (on the .org site) and Sunday updates (on ttheory.com). One thing about him is he doesn't believe in Elliott Waves or other methods at all, and yet his method is now matching up real well with the Prechter's of the world, and it's getting downright scary how bad things might soon get. Arch Crawford's big weekend (listen to his interview last Sunday on financialsense) is also coming up 7/31-8/1. Makes me wonder what kind of event could coincide with that astral alignment that reportedly hasn't been so "strong" in at least 10,000 years, maybe bad news in the gulf that a relief well hit a gas pocket and blew out, who knows. Maybe BT will feel the astral vibrations and sell all his stocks that weekend, a true black swan event.
Most of today looks like a wave 4. If so one final push up to that 1085 area could be ready to get going shortly. This is looking a lot like the rally after the "flash crash" in early May, and if so tomorrow would be the closing high to get out. I learned my lesson in May trying to squeeze one extra percent out, and will just take my second straight lucky gain and run. This whole rally since 7/1 might just be wave A of a larger ABC that runs well into next week, but this is good enough for me.
http://www.ttheory.com/
http://www.ttheoryfoundation.org/
