Hi, my name is Vadim Pokhlebkin. I am the new head of EWI’s Flash Services. Some of you may also know me as the instructor of EWI’s course, “Trade Small, Win Often: The Dick Diamond Method of Trading for a Living.” I’ve been with the company for a couple of decades and over the years have worn many hats. This is the latest one, and I’m excited to be in this chair.

If you are a Flash subscriber, over the past few days, you have noticed a flurry of activity on this page inside MyEWI. If you’re not a subscriber, you can join us if you go to elliottwave.com, click on Subscriptions and choose Flash Services.

As subscribers know, we have three categories of Flash alerts: for the futures markets, ETFs, and stocks. And over the past few days, what we’ve been doing is bringing some of the alerts to completion, initiating some new ones, and also managing and adjusting the alerts that are still open.

Now to do all that, we use a proprietary tool called EWAVES, which stands for Elliott Web Analysis and Validation Expert System. It’s a proprietary software — world’s first — that labels price charts according to how close they come to the idealized Elliott Wave form, something that we call “Elliotticity.” Let me show you how EWAVES helps me do my job.

When I log into EWAVES Live, the first screen that I see is the Search field, where I can plug in the name of a specific market, or I can click on Browse All Markets. If I do that, it gives me 19,623 results. That’s how many instruments
EWAVES currently has in its database, and we continuously add new ones. Now, obviously, for me to sift through all these charts manually is going to take hours or days. But EWAVES helps me by ranking them all in terms of Elliotticity.

The Elliotticity score ranges from 0 to 100. And right now, the chart at the top of the list out of 19,000 is L3Harris Technologies (ticker symbol: LHX). It’s a stock that I’ve had on my radar for a while, and there’s a good chance we’ll be issuing an alert for the stock sometime soon.

But first, let me walk you through an alert that we issued yesterday for the stock of a company that we all know well: Hershey’s (Hershey Foods). Now, we first opened an alert for Hershey’s back on July 9. Yesterday when the price was hovering right near 200, what I saw was that EWAVES was labeling the rally of the low back in April as Wave 1. Then we had a deep pullback in Wave 2, and then the rally off that low was labeled as waves 1, 2, and 3, and Wave 4 was labeled “in progress” as of yesterday.

Now, EWAVES — like a human analyst — adjusts its Elliott wave count based on the latest price data. Today, it labels Wave 4 as complete because of this rally that followed. However, yesterday, it was still thinking that Wave 4 was in progress and moving lower. And by my estimates, if it had continued lower, the price would have come very close to the cancel alert level that we had set for the stock, which was set at 189.99. So as of yesterday, the more prudent choice was to suggest that we take this alert off the table, and we did.

Now, getting back to the stock that I mentioned earlier: LHX. The reason why it’s been on my radar for a while is because EWAVES is counting it as a very strong impulse to the upside. And when I zoom in on the closer picture, what I’m noticing is that it’s counting the latest rally from last October as waves 1, 2, and 3 in progress. However, the decline from this Wave 1 high is labeled as Wave 1, Wave B in progress (which is developing as a triangle).

So we are expecting, according to this labeling, Wave C to take the stock somewhat lower. And that’s why I’ve been keeping my eye on this stock for a potential alert at some point in the future.

So, that’s a glimpse at what we do here at EWI’s Flash Services. Again, if you’re not a subscriber yet, you can go to elliottwave.com, click on Subscriptions, and choose Flash Services. If you are a subscriber, stay tuned. You will see a
lot more activity on this page. And I also plan to record these videos a couple of times a week to keep you up to date. Have a great day.