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Friday, January 15, 2021

Elliott Wave Update ~ 15 January 2021

COMMENTARY

The socialists will be fully in charge come next trading day which happens to be Tuesday, 19th because Monday is a holiday. Fake President Biden will conduct a fake inauguration (no one would have showed up anyway just like his rallies) guarded by some 25,000 National Guard troops (this is to show America and the world what a threat the "Trumpers" are).  Banana Republic indeed! 

It was a fake "insurrection" largely led by left-wing agitators who spurred on a bunch of overzealous Trump supporters into breaching the US Capitol (after the gates were opened by the police). The Uniparty used this setup as the 2021 version of the "Reichstag Fire" and come first legislative session they will essentially criminalize 1/2 of the country. Banning of speech, banning of MAGA hats, banning of freedom to assemble, yada, yada, yada.

And fully 33% of the country is on board with that cheering it on. Its not going to be a very good economical year you think? Do you think this is deflationary behavior? (yes!)

Here is the thing about socialists: they don't like capitalism.  That's not me saying it, that's coming directly from their mouths. Stock market = capitalism (although its crony capitalism for sure). Therefore stock market is likely to crash and I don't think anyone in any position will care.

Trump will have gone out on a stock market high and as a result, his approval ratings are high. Presidents are largely remembered for the final approval ratings when they leave office. In other words, if they leave office on a social mood high (relatively speaking), many will remember them in that vein.  They'll literally outlaw Trumpism, but that will only spur to create more converts to the cause.

And what is the cause? As I said, it is the protection of the Bill of Rights (for all not just 1/2 of the country!) and the resistance to the implementation of socialism (which only brings death and despair). Its that simple. This is why Trumpism isn't going to go away and will only grow as the heavy hand of communism comes down harder! Trump's going to look like a savant, his predictions of the Democrats implementing socialism will come true within days of them taking power.  My guess is that more than 50% of America will not like it at all. The Democrats will be making converts to the cause. 

They have overplayed their hand at the peak of a fake (B) wave, inaugurating a fake President, and spewing fake insurrection propaganda. Can there be any more of a perfect peaking moment?  I can't think of any.

And if the market crashes, Trump's prediction of that will have come true too.

It was a good start today if the stock market top is in. Perhaps a gap up Tuesday right before Slow Joe (NMP) puts his hand up and mumbles something. My prediction? He will probably fall down somewhere on Tuesday. I mean literally fall down like when he "got out of the shower" last month and fell while playing with his dog or some shit. His health is deteriorating and its going to be a stressful day for him. I don't think he will do well. In fact, its bound to be downright embarrassing. I won't be watching any of it. I'll take Roger Simon's idea and ignore it all as it deserves to be. 

THE COUNTS

As I said, I accept both versions of the long term count because they both tell the story. One works nicely in log scale, the other in arithmetic.   The expanded flat count predicts 5 waves down to form wave (C) just like happened in the 2008-2009 decline was 5 waves down.

The Wilshire has expanded 1.47 times wave (A).  That is very extreme so if this is a (B) wave, it shouldn't go much higher than a multiple of 1.5. We are close.
Look at the weekly volume candle(s) people! You know what that is? Its churn! Its a heckava lot of smart people selling the market high because the Communists are coming to take over.

Deflation is coming. Indeed its already here.
The dollar is poised to soar like never before.




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