Elliott Wave Update ~ 16 Aug 2022

END OF THE WORLD – REVELATION – UPDATE

I have been predicting global war before the year 2022 is out. So far it appears on track. China has been very aggressive over the last many weeks and even the last year. This level of aggressiveness only brings hubris to the Chinese rulers. Eventually all the war talk will manifest itself into real warfare. And once the first shot is fired in earnest, there is no turning back to the old-world way of doing things.

Is it any wonder the U.S., after having sold out to China for the past 30+ years in sending all our manufacturing over to China and also Taiwan, that the U.S. has just passed the Chips and Science Act of 2022? Do you think the powers to be that run the world don’t know that a war between the U.S. and China is on the cusp of breakout? Of course, they do.

On the other side of the world, Zelenskyy – our real-world Antichrist (or at the least, the Antichrist prototype foreshadow) is gaining political and military power worldwide. Almost all world leaders have gone and pledged fealty to him. Biden (possessed by high level demons) and the Pope (also possessed) have yet to go and pledge “fealty” to the “Jew” of the Ukraine. But when they do, you know it will be “game on” for Revelation playing out in earnest.

At any rate, my timeline for Daniel’s 70th week is still on target. I have suggested recently that August would be the “last hurrah” of the old-world system before the takedown in earnest. And it seems to be so tracing out an Intermediate wave (2) that will peak when it is damn well ready. The only “rule” is that the Wilshire 5000 will not see new All-time highs.

My timeline suggests something will happen on or about after the first week of September. And it could be that the Chinese are just waiting for the calmest time of the year to conduct amphibious operations across the Taiwan strait which is September through November. This is another strong reason why I think they will attack before the year is out – they will lose the weather initiative for another whole year. And Xi wants greatness – I am sure Satan is putting that in his heart to attack.

So, enjoy the relative “peace” (unless of course you are in Ukraine) while it lasts.

Again, there exists enough squiggles in place to consider the count over. If this is the case, the preferred count is below. VIX is diverging a bit.

Next best squiggle I suppose.

Yesterday’s CPCE data. This is one I am watching closely as there seems to be an observable pattern in place. The 10-day moving average (green) should move down to the green trendline as well as the peak daily moving average (purple) should make a max low near the purple trendline. Keep an eye on this.

VIX in slight divergence, CPCE moving to an aggressive position, and JUNK is in slight divergence no new high today.

Wilshire overall volume does not reflect a move to a new high. It is subdued. I don’t have today’s data yet though. The 61.8% Fib – well within “normal” for a wave (2) retrace – is also horizontal resistance. Being that the market is now overbought for the first time since the November peak, it should stiffen up.

I’m still counting on the NYSE to NOT regain the Minor 4 of (1) price peak pivot. We shall see, I guess. This is the point where intense selling began the last time prices were this high. I suspect that previous sentiment still exists at these levels. People have been handed a “gift” of getting out at very good prices.