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Wednesday, January 6, 2021

Elliott Wave Update ~ 6 January 2021

There was a reason I could no longer separate "politics" from the theory of social mood. They are, in fact, closely aligned. To never mention the election or how divided this country has become would be just more glossed over malarkey that we are all so used to having shoved down our throats and worse, made to repeat.

Again, this is not your average wave counting blog, this blog attempts to explain why social mood waxes and wanes and how that translates in the wave charts and then ultimately, how that predicts what could happen in the future and the effects on society. And therefore the real life moods and events have to be talked about for it to make any sense.  

And I would be dishonest if I didn't announce my own bias in the matter. Of course I am biased, we all are biased, we are human after all.  What are the two things you are told never to discuss at the dinner table? Politics and religion of course. Well, I will have to break that taboo a bit here and there.

I will however try and be fair about things and look at things from the lens of social mood. Yet I can feel my own mood and biases. I can perhaps use them to help the blog.  I will (and have) lost many readers (and gained some) due to announcing my biases. I wish to lose no readers and if you keep in mind that I am trying to use my own social mood feelings to help make sense of the wave structures. If your a diehard Biden supporter go ahead and flip the channel if you must! You'll learn nothing knew though, you'll just go to a place that reinforces your own biases. 

And that's how tribalism comes back into play even in 21st century America.

My own mood? Well, any objective person looking at all the evidence uncovered (and their own two eyes) would have to easily conclude the election was literally stolen from Trump. I'm not going to litigate it on here. I could link day after day to literally 100's of well sourced, damning video evidence, signed affidavits, and articles by very respected people on all the fraud that happened all over the country.  Heck just watch the full hearing that the Pennsylvania legislature had on the fraud and its extremely damning (and disheartening to those voters who are disenfranchised as a result). And big media is busy burying everything anyway. In 2 years you won't be able to find anything by a simple search.  

Those who don't wish to know truth or seek truth would not read them anyway. So why bother. You all will look what and where you want (or not), so I won't waste my time. I will say this; objectively Joe Biden, who didn't leave his basement, who couldn't get 20 cars to a rally, apparently somehow got 80 million people to vote for him. Outdistancing Obama by far.

Yet that leaves 75 (counted) million Trump voters. And likely 80 Million + (yes that many votes were probably stolen, burned, erased, thrown into dumpsters and/or changed in the machines). So you can believe what you want, but you have 80 million people and a supermajority of them believe (rightly so) the election fraud was massive turning an overwhelming Electoral College win for Trump into a win for the true Manchurian candidate.  

Why does this matter? Well, the side who "won" has promised socialism will be shoved down American's throats whether they like it or not. And we took them for their word. And 80 million tried to stop that from happening by voting for the guy who was against socialism, but evil won the day, excuse me, week.

People only vote Republican to try and stave off communism because communism brings death and despair. Not that they think the Republicans are actually going to do anything about it. They won't and haven't.  I am done with the Republican party.

So enough about that. Humans, who are social creatures, are not ruled by "facts" they are ruled by emotions - mood. And that mood waxes and wanes on titanic-sized scales over time. Its a good thing too. It ensures we don't finish off the human race in one fell swoop. Its Nature's (God's) way of throttling us from getting too murderous or getting too greedy.  We are way overdue in the "greedy" and "corrupt" stage and mood is beginning a historic shift to the opposite side of things. Its a constant rollercoaster ride throughout human history.  We are at the top and the coaster is almost ready to plunge!

Our moods are a product of our sin that we inherited from Adam and we cannot escape them. Even if you don't believe in God, you can admit that we are ruled by moods. The best we can do is be aware of them, why and how they govern us, and use the wave structures to predict the coming further mood shifts and the effects that shift will have on society.

Things that are happening now surely happened at many other places in time for instance the Roman Republic. Human nature doesn't change!  

And that brings us to today. I was warning for the past many weeks that the last segments of the population are now shifting in mood and catching up to all those that have been angry for far longer.  We see that now law-abiding citizens, those who have had their businesses and livelihoods destroyed since March are beginning to realize they have nothing left to lose.  And after having their noses rubbed in it by the very DeBlasio's, Whitmer's, Pelosi's and Cuomo's of the world, (see my bias in that?) they have had enough. 

But you can bet the incoming Congress will use this Capitol Building incident to pass draconian anti-Bill of Rights laws (didn't I predict that a few months ago? - they only needed a reason).  And that will only inflame in the end (their intention anyway). Congress (and big media) supported when BLM and Antifa burned whole cities, including the church across street from the White House, but they will enact as much hardship as they can on Trump supporters - well lets just say they never let a crisis go to waste huh? 

Oh, and by the way, there were surely a few Antifa infiltrated throughout ensuring the cameras will have caught the right pics to gasp the public on CNN.  But for the most part, it looked mostly Trump supporters (but the guy in the Viking hat looks like an anarchist)  And Big Media is already spinning this up to call for a crackdown and to marginalize any Trump supporters (again 80 million) as a result. Its a shame but predictable.

"Normal" Americans (who just want to be left alone) are now affected so much in negative mood that they have finally shown some real anger. After all, they went to the ballot boxes and their voices were snuffed out.  And you know, its not like its the first Federal building to be "taken over" since March. re; See Antifa, BLM, etc.

Is this the beginning of a dirty civil war? I certainly don't look forward to it because totalitarianism in the end almost always wins out. Yet, the sociopaths and their government enablers who deny us access for what should be over-the-counter, cheap $3 drugs (Ivermectin, HCQ) to stave off misery and possible death from a novel virus, are always to be feared and must eventually be fought.  Because they literally will kill us and have. 

I have been predicting this fracturing society mood outcome for years. It was slower to develop but that only means the titanic turn in mood is going to be epic and at Grand Supercycle wave degree (which is a multi-century) structure.

The good mood is running out of the total population. The wave structure(s) will surely follow. 

Are we really in wave 5 of (5) of [5] or a massive expanded wave (B) since March with a devastating wave (C) down yet to come? It really doesn't matter at this point, they both suggest the same thing; massive downside pain is coming - for all.

THE COUNTS

I threw out yesterday's COUNT 1 because the wave [iv] triangle no longer is useful to be labeled as such. It no longer "looks right". It was however very helpful in us charting the squiggles higher over the past many weeks though yes? We could use it and say its over, but I have another way to label things now that more structure has developed. It was never a great triangle anyways.

The new count 1 which implies the same thing anyways. The count is over or nearly so.
Yesterday's count 3 becomes count 2. Again we are splitting hairs here anyway. But if we have a few more weeks to run, then this is the best count for that.
Weekly. Orthodox (1) and (5) peaks meet on a channel line.  There is a higher blue channel line that may become the eventual target.
Here is the Count 1 in the daily chart. We have peak RSI on this backside wave right where we expect it at at subwave of [iii]. But look at the volume spike today!
In Count 2, there are enough waves in place to call it complete although we may be missing a few more bumps higher so wave [v] has a better price relationship to wave [i] within wave 5. But the volume spikes are telling.
Tesla did have another pop. Gap up exhaustion daily doji candle? We shall see.
Junk has helped me count the Wilshire believe it or not.
10 Year Yield.  Here is the real story. Last time this cahrt was posted I posed the question; Is upside surprise coming? That may have started today. Ultimately interest rates will crush everything..except King Dollar.
The dollar. Major support at extreme negative sentiment. Looking for a turn upwards sooner rather than later...
Are we still super bullish or what? YES!
And the DOW chart. Overthrow? Looks a bit much, but everything has been extreme so I can't rule it out just yet.
Bonus squiggle chart













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