A bellwether is any entity in a given arena that serves to create or influence trends or to presage future happenings.
The term is derived from the Middle English bellewether and refers to the practice of placing a bell around the neck of a castrated ram (a wether) leading its flock of sheep. The movements of the flock could be noted by hearing the bell before the flock was in sight.
This is Allan's Elliott Wave Count on the Google chart: Interpretation: GOOG is treading water, till it sinks to new lows, in Allan's opinion, based on his Elliott Wave analysis. Wave count 4 was up, and now these charts indicate that to fulfill EW expectations, a wave 5 down is on the way.
Allan’s “Trend Following Trading Model,” is based on his trend-following trading system for buying and selling stocks and ETFs. Most trades last weeks to months. Allan’s offering PSW readers a special 25% discount. Click here. For more details, read this introductory article.
For more on Elliott Wave Theory, check out EWI's free TA guide: