If the primary count is correct, the market is about to experience wave (iii) of [iii] of 1 of (3) down. This is not the true “third of a third” that is sometimes talked about, but it should still see some very elevated selling pressure. Prices should move toward the June lows and then surpass even lower. The “job” of five Minute-sized subwaves of Minor 1 of (3) down is to advance prices well beneath Intermediate (1).
The true “third of a third” – wave (iii) of [iii] of 3 of (3) – is still quite some time and price from here. Even so, elevated selling pressure should be expected soon.
The weekly shows an “idealized” pathing down for Intermediate (3) of which has really only just begun if this count is correct. And I realize it is a presumptuous count, but that is the theory.
I mentioned a week ago, there are higher powers in play (Satan) and Powell has probably been told to “do nothing to help the market”. And now I laugh as I surmised yesterday, the Witches of Congress, led by Elizabeth Warren, are already screaming for Powell’s head. LOL!
CPCE. Still bullish in a sense. Not one day yet has the ratio crept over .90 which is not even a 1:1. It is my theory and belief that the coming super bear market will see readings such as the CPCE elevate to sustained averages that have never been sustained before. 10-day and maybe 30-day averages over a 1:1 ratio with puts being dominant. But alas, that is a far way off for now. But that is my thinking.
Like Robert Prechter of EWI has stated, things have been so bullish for so long, that the coming bear market will begin to see things reverse in such a way that looking at “technicals” as viewed through the lens of old bull market interpretation will fail miserably. But again, we haven’t even had the first real panic.
Another example is that the Dollar should at some point in the future, reach higher levels that the early 1980’s. It is not the dollar that “collapses” first, it is the bonds you dummies! (I have been saying that for over a decade). People sell bonds…and get dollars in return.
At some point, when the global financial collapse is complete, the need to restructure the world based on the “mark of the beast” global digital currency system will be rolled out.
Waiting for China to crack further. War comes at the low points of waves. That 16-year trendline is key.
And finally, in reality, look where the market is and was not so long ago. Why would it not be able to survive even a small hiccup? It’s the global debt load of course. A Ponzi scheme must always expand or else it cascades upon itself. Folks, the global financial fraud is in fact a Ponzi scheme and it won’t take much to tip it over.
That which cannot go on forever, won’t. Only God and the gift of eternal life goes on forever.
