EWT was predicting it all along. Not.
You would think that Elliott theory is a good trading tool. Had you listened to Goodvibe, you would have thouroughly enjoyed today's plunge, right?
Here is the problem, however: Goodvide is now long. Or so it appears from his statements.
Comment 12 in "GoodVibe Community Alert - This Is The Time!"
"Skinnee - My current bet is short that I started at both 955 and 925. Those will be covered with nice gains if 927.09 will be taken out tomorrow! It's simple as this. The rule that wave 1 can't retrace more than 100% of 2 (if you are aware of EW). If we top 927 high, then all we know that wave 3 DOWN is not gonna happen and the bullish scenario have better chances. This is the only thing we can be certain of. For the upside above 956 from above 927, we have to find out like everyone else. We will have to wait for more actions on the chart."
01:11 in CIL 12:
"GoodVibe: I think you should post that chart in the comment section, approved by me. :) I have the same count and I was going to post it. Just make sure to put the alternative. I am putting three lights as stops. Green 907, yellow 910 and red 927. I will cover on one of those depend on what comes tomorrow. This channel is bothering me and it's telling me that if it breaks, It's better to book my gains in this trade. I'll give it a little bit room though."
So according to GV, you should have covered all your shorts at 927. And also, if you listened to GV, most of your shorts would be the ones made in the upper 700s and low 800s, when he shorted the market because "The Book" was predicting some corrective wave 2 or 4 that never happened. Granted, his third short call at 956 was spot-on, so he gets full credit for that - and 29 points on the S&P. His other two attempts to go short are now deeply in the red - one about 60 points, and the other about 100 points on the S&P. Today's drop would have been welcome news for all those holding these short positions, but unfortunately, they got stopped out at the "red light" at 927.09.