The Global Dow chart below can be counted in a few differing ways including an (A)(B)(C) with a 5-3-5 setup. I certainly won't argue, in fact its a very interesting chart. In many ways its the best index out there to chart because we are talking global social mood. It makes exceptional waves.
I hesitate to post this chart as I am playing around with waves and "throwing" some things out there just because the market seems like it may now be at the stage where its like a crack addict who, instead of allowing himself to come down from a high, instead chooses to smoke until he is convinced he can, and will walk through walls even though he has a broken leg, a swollen left bloodshot eyeball, and a gunshot wound to the abdomen. He simply does not care anymore.
I figure I'll take a differing approach and try and chart a path higher for the crack addict rather than get my shirt bloody anymore trying to help him come down from his high. Its not my job to help him anyways. He would roll me and rob me blind just for another hit on the crack pipe. Sure, I'll keep paying him along the way, after all I am stupid too. I like charity causes (yes I am still short a bit - but I have spare ammo).
But the chart suggests that if there is a path higher for the Global DOW, which is in a resistance free area as we speak (not to be confused with a drug-free zone), then perhaps I have the count somewhat correct. Or if its not a double/triple ZZ, then maybe one more high and I can use sleight of hand to put a nice (A)(B)(C) on the whole thing. I really wouldn't argue it at this point.
The interesting thing is that this count below would account for that seemingly obvious 5 wave move down of recent which included a very awesome reversal and managed to indeed close the Global Dow under its 20 month MA. Doesn't that account for something? Or was it a bear trap? No matter. I look at it all as an opportunity. Every day is an opportunity even if your last day wasn't. Thats how you approach it I say.
The next Global DOW chart shows you just how high in the stratosphere we really are in the bigger scheme of things. Now you see why we do indeed have room for wave 3's down and such. At the very least, gimme another 5!
In conclusion since Septmember and October turned out to be not so bad for the markets, why wouldn't every Tom Dick and Harry institutional manager who is trying to beat "the average" not keep sweating things out to the global finish line of January 2010?
Surely he can hit the sell button faster than the next guy come the New Year. He only wants his Christmas bonus and a promise to be able to play the casino game next year.
Good luck everyone. And I sincerely mean it.
Hopefully my mere suggestion of a higher global DOW, as a lowly retail type, will catch The Watcher's eye and they will report the situation to GS Central and they will dump the market just to spite little ol' me and make me look stupid.
No matter I have my stupidity hedged with real money.
So its win-win...I guess.
(PS - Thanks for all the kind words and support and the donations along the way - I really do appreciate it and I never seem to thank ye enough - So thanks!)