Will the final surge of an apparent wedge transpire? We don't know. The wave count however allows for it.
Disturbing news about credit here and here. Ultimately when the Total Credit reported by the Federal Reserve goes into any kind of contraction mode, the end is not far for this bubble. A mere blip in 2008/09 created a 56% drop in equity prices.
Yes, we are all so stupid we cannot see it. Even I, an ultrabear, do not care anymore. We should very well care. But things have been put in motion a long time ago and its path was determined by social mood. We cannot influence social mood's direction, merely try to ride its waves,
Price collapse in equity prices is whats called for if the wedge is a true wedge.