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Thursday, April 15, 2021

Elliott Wave Update ~ 15 April 2021

PEAK MANIA

I could go on and on about how insane things have become with regards to the current financial mania that has gripped the world. I could talk about the proliferation of SPACS - open ended checks. I could talk about digital currency mania where the value of a bitcoin has gone up a gazillion % since its inception.  I could remind those who push it that currencies are not supposed to go a bazillion % as a matter of being a currency. How can we possibly buy and sell things in Bitcoin if we think its inflation (or deflation) will render our purchase silly just a month down the road?

I could talk about the newest craze of Non-Fungible Tokens (NFTs) or whatever the hell it is. I suppose its like Bitcoin. Regardless you cannot even "see" your investment. Its in the computer or something or you get a nice framed certificate of whatever. Yet people think this is just dandy.  What the hell are you going to physically accomplish by buying a tweet for $2.9M?  I mean I guess charity (a lot of fraud in charities anyway) is what its supposed to buy, but really are the buyers hoping to flip the buy and double their money down the road?

What next? Will Jack Dorsey fart in a glass jar and sell that for $3.9M? Or pledge the proceeds to charity? 

The mania must surely be near the top. 

I could talk about record amounts of debt of all kinds. You know the story. Or margin debt. Just some random graph I googled on the internet. Can you see the clear Elliott waves?  I added some wave markers just in case!


I could rant about Covid madness particularly the vaccines but Karl Denninger does it better so I'll just link.  Its another example of the madness all around us. Line up like a guinea pig for your shot!


Part 2 here. 

Here is another good Covid online source.


Again with the ability to find out on your own to make informed decisions via the internet, people are mostly sheeple and refuse to look.  One woman I know might have Covid but every suggestion I make is shot down with conviction for whatever reason.  Well, my final response was "Well, if your not going to research anything and don't want to consider anything, then I hope you don't choke to death, good luck." (No I actually didn't say it quite that blunt, but yeah I was blunt.)

I just think its all sheer madness. 

I know of another woman who was pressured into getting a shot because she is a health care worker and got the J&J just before they shut it down and she is so pissed at herself and regrets it deeply even though it was last week. I truly hope she is fine in the long run but at least she came to her senses.

She realized this one little simple thing; you cannot "undo" the shot.

You can be a drunk and get sober. You can be a crackhead and get sober. Your body might even repair itself back to a "normal state". But the shot? Again good luck. I hope the 23% and counting of the country who are fully "vaccinated"  don't start getting terrible afflictions come this October. Terrible over-reactions to either the constantly mutating Covid or even a common cold. 

My prediction is that the vaccination rate for the country will top off at a Fibonacci 38.2%. Why? Because the more jabs they give, the more bad things will come out and the more people will wonder what the hell they were thinking. 

Reports today that people are dying of Covid anyway even after being vaccinated will come out more and more.

I still have hope people will wake up to the tyranny that is all around us. I am confident they will.

Nah, they won't and the crap is going to hit the fan.

COUNTS

Everything is hitting on all cylinders for the Primary count. It appears prices want to run toward the upper wedgeline. There is no resistance left anywhere in the market so I don't see why not. The Great Mania must peak!
Squiggles
Ok. Here is the main reason I always wanted to switch my wave degrees one degree higher. Its the brilliant Robert Prechter of Elliott Wave International (EWI) DJIA/PPI chart. I can't beat this so I show it in fair use and I encourage you to become a FREE EWI Club Member. 

So therefore please click on my links to the LEFT and click on EWI and become a FREE CLUB MEMBER.  That way if you decide to buy one of EWI's products I get a small commission for having signed you up. You really DO get a lot of good free stuff, and he doesn't bait and switch or any of that BS. Its an old-time free membership and not any hokey-pokey. So do it and browse around. I get $3 per club member signup as I am an affiliate of EWI.

I added the arcs of social mood in blue, green and pink but the underlying count is all his.

You can see we are at a cycle wave V since the 2009 low which makes perfect sense.


My monthly chart, I felt like populating the count some more. I just painted as it seems to count best. I usually don't detail the rise in the 1980's and 90's but I took a stab at it because it was empty. I wish Stockcharts had data that went back further.

Have a safe night all!
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