The “upside surprise” of a third of a third wave continues. Best count has the market seeking the top of Subminuette wave v of Minuette (v) of Minute [iii] of Minor 3 of intermediate (5) of Primary [5]. How’s that for a count? LOL.
The market breadth finally expanded again in today’s move which is bullish. It had been declining as prices rose with everyone expecting the bottom to drop out again.
Today is also 9 straight up days in the SPX which has not occurred since 2004.
I could see a small early Monday pop and then a consolidation effort that could take the market a few days to digest. The spectacular gains to get back to 5700 so quickly will likely result in a sideways (relatively speaking) movement of and an ultimate defense of the newly acquired 5600 support level.
The new key wave marker is 5596 give or take.
Yeah, I used every wave degree because it was fun to count today. A Monday morning pop to above 5700 would be fitting and then perhaps some up and down sideways action to consolidate gains.
The way I see it, there really is only one major resistance layer that lies above at roughly the 5800 level. It’s likely going to take some price consolidating above 5600 before the assault above. The market is still in an aggressive Minor wave 3 and daily RSI is screaming higher.
If my count is correct, I show a rough outline of what the rest of a wave (5) of [5] would look like.
Elliott Wave International used to like to say GOLD behaves like a commodity and goes parabolic as many commodities are wanting to do.
Best guess stab at long term bonds. A clear impulse down from peak and a weak rebound. Perhaps it’ll take a total market crash later this year to push money back into bonds.
Someday the dollar will zoom back to the peaks of 1984 – 1985. I really believe that. Remember, bonds sell into dollars and not the other way around. It’s the underlying debt that is danger first of being liquidated. I always kind of laugh when people say the “dollar is worthless and will crash”. Really? As if any other fiat currency is more of a safe haven than Babylon USA’s? Wouldn’t the worthless debt (bonds) be liquidated first? Is paper GOLD going to save you? You can’t cash in your GOLD ETF for any real gold. Good luck on that. A world reset is coming. You know it, I know it they know it and they really aren’t even trying to hide it.
Trump wants the Fed to lower rates, but the market has yet to determine that.
COMMENTARY
Trump’s tariffs are really only about one thing: preparing Babylon USA for war with China, Russia, and North Korea. These are the 3 remaining populations that the New World Order must subdue to enact their global government, bring about their one world currency, and one world religion (Satanism) and it’s going to take WWIII and a global financial collapse and global reset to achieve it. In fact, Putin, Xi, and Rocketman are probably in on it. Satan is actively engineering all this to come about.
The children of the devil are not playing around. Most people underestimate of the tremendous murder they are capable of because we are so well removed from the real horrors of WWI and WWII. Things always come in threes…
The tariffs are indeed forcing American companies to move supply lines out of China, giving time to reestablish. Democrats didn’t cheat for the win in 2024 because at the top levels, they of course are all in on it. As are the Republicans. The Uniparty. Sure, the dumb masses get all riled up on both sides. Bread and circuses.
This is why dystopian games and moves, and TV shows are so HUGELY popular. They are preparing us mentally for a world that really will be dark and scary and murderous and… inevitable. They want people to believe it’s inevitable and now most probably do.