Custom Search

Monday, March 22, 2021

Elliott Wave Update ~ 22 March 2021

The Wilshire topped in absolute intraday price in mid February. Yes it has come within spitting distance of reaching yet a new all-time intraday high recently but so far it has "officially" not.

So what can I say about my main Wilshire 5000 index that I use for overall wave counts and structures and has not topped again in almost 5 weeks (February 16th) ? When at the same time the DJIA and even the S&P 500 has topped again and again? 

Its a hard narrative. It may just well be another sign that the market is transitioning into something different (a new bear market). I'm not going to stamp my feet one way or another. I suggested over a month ago this thing (Wilshire 5000) may have topped and you know what? I technically may have been correct.

So we'll see. In the meantime we have some generalized count options but its a crosswinds situation.

The NYSE supports the above count.

The VIX lowest close in over a year. Limp. People are "tired". A lazy VIX plumbing lower lows represents this spent emotion.  Lockdowns. Riots. Cult of Covid and the Mask. We are tired. How long will it last? Will people get pissed off soon? Is social mood just taking a much needed breather?
And yes, the most bullish count supposes that the market will get crazier even still over the next few months. I don't discount this at all. Afterall, a 233 year rise ending with COVID 19 lockdowns doesn't make for a very "bullish" Grand Supercycle top. 

"Partying Like its 1999" does make a bullish Grand Supercycle top even if the "party" is a merely an "echo" of the true social mood peak of 1999.

I actually hope we go higher for this Spring/Summer. It would blunt, for the time being, the totalitarians that wish to take us all down to the depths of hell.

Biden really sucks as a President. Everyone knows it. He insulted Putin for why? Fucking Russia has as many nukes as we do, do we really need to insult and humiliate Putin for no good reason? Do I have to worry a nuke is coming over the horizon and who will order the counter-launch in response? Fucking Biden has no clue what's going on and has no business being the President and no business being the Commander in Chief.

And everyone with any lick of common sense knows he has dementia that is rapidly advancing and that he was massively, fraudulently "elected". Its a fucking crime and a travesty. 

And just look at the border and 15,000 kids locked in dirty, overcrowded Covid cages.

blog comments powered by Disqus