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Monday, November 9, 2020

Elliott Wave Update ~ 9 November 2020


Anyone watching market action has to realize how insane and out of whack everything is.  Kind of like the election.

And we are to believe that the market reacted "positively" to Joe's "win". And that this is the "new beginning" of some kind of mega-rally. And all is right with the world. Or "rotation" or something....

Whatever. It would be the perfect ending to a glorious fraudulent financial system. 


Dow up 1600 points from close on Friday to today's intraday peak, cut in half by end of day. Nasdaq finished -181 today, off 1.53%. 

The crash will be something to behold. 

One possible count has a completed impulse up from Minor 4. Yeah the count sucks. There are some variations that take it into 2021 for a bit, but this will do for now.

The weekly explains the price action in the Wilshire. Its an "overthrow" attempt at the long term Elliott Wave channel. Prices fell back under. It would be the perfect topping point.

A new intraday high for the DJIA yet DOW theory is still not in agreement on a closing basis.

Even the Wilshire did not beat its previous closing high

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