5/7/2021 0 Comments Free Elliott Wave
They are, as usual, late to the game and the game is about to change.And we are to believe that the market reacted positively to Joes win.
And that this is the new beginning of some kind of mega-rally. Or rotation or something. Whatever. It would be the perfect ending to a glorious fraudulent financial system. LOL Dow up 1600 points from close on Friday to todays intraday peak, cut in half by end of day. Nasdaq finished -181 today, off 1.53. The crash will be something to behold. There are some variations that take it into 2021 for a bit, but this will do for now. Its an overthrow attempt at the long term Elliott Wave channel. ![]() Even the Wilshire did not beat its previous closing high UHOH. You will be made to care Stock market included Social mood is at a historic turning point, there is no going back. WE must ride its final waves bravely and wait for the inevitable crash as best we can. Why an election in 2020, in the most powerful nation on earth, cannot be solved in 1 day is not an accident or the blame of the Chinese Kung-Flu. The stock market however, will, ultimately fulfill the fate of the long term social mood trends. ![]() Finally some movement off the bullishness of the CPCE toward a more bearish stance. Year yields on the move again. This is not good when the entire American both public, private and corporate debt is just insanely high. Remember, a gargantuan amount of debt has been piled on in the last 8 months alone. Therefore it probably wont take much of a yield increase to compound it and blow it all sky high. I could have shown this yesterday (the data comes in later though) but the NYSE experienced what I consider a negative breadth event in the last 14 days on the heels of a significant positive breadth event. Again, this market is reaching more abnormal conditions than what has gone on in the past. The ultimate crash, in my opinion, will not follow any expected or normal technicals. For instance we expect huge gaps (talking about down in this case) to be eventually filled but that may not happen at all. Expect the unexpected When market participants have been conditioned for decades on technicals, when retail are now studiously employing technicals at the end game of the financial mania, we can expect technicals are going to go crazy and fail in many ways that will wipe out retail. Retail should have discovered technicals in the 1990s or 2000s not in 2019 and 2020.
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