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Thursday, February 11, 2021

Elliott Wave Update ~ 11 February 2021

New closing all-time high today for the Wilshire 5000.  Best squiggle count hasn't changed. We can mark today's pullback low wave c of an a-b-c wave (iv) flat.  We are still a "go" for launch to 42,450ish in wave (v) of [v].

The projected (B) wave peak is aligning itself with the impeachment vote perhaps or shortly thereafter. Trump is widely expected to "win" the vote and thus avoid any real consequences of this entire farce. However, don't count out the treacherous Republicans' who mostly want to just stab him in the back. 

At a fake (B) wave social mood peak in which gaslighting, fraud, insincerity and lies are at an all-time modern peak, anything is possible.  A 67 Senator vote for "impeach" would indeed be a surprise outcome which I don't think the market will like at all. I don't expect that but you never know.
Either way, the market is projected to "peak" and thus we will have reached peak fakeness...peak fraud. And then things go the other way. Back to reality. Back to real price discovery.  A rejection of the lies.
Yesterday's CPC data (I get it late).  Things may be stalling out. The gamma is not having the same effect. Shorts are wiped out as there is very little historical short interest left in the entire market.

Yet they can't help themselves. The daily numbers just keep pegging ever onward in one direction.
VIX poised to close the open (sore) chart gap perhaps with a final wave (v) of [v] push. If you see this gap close, one might consider loading up to the hilt on deep out-of-the-money puts dated far in the future. You might just have a /deepfuckingvalue but in reverse.  Maybe even pick the biggest, fraudest stock you can find; Crapple!**

And yesterday's plumbing chart got even more clogged.
** Apple really is in a precarious situation for one main reason: their China exposure is massive. In a world in which downturning social mood means economic contraction...well you get the idea. But lets say China's mood gets really sour and finally invades Taiwan? What is your Apple portfolio going to be worth then? 

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