COMMENTARY
We all know the VAERS deaths and reports are vastly undercounted (just comparing it to Europe shows us that) but now we apparently have an insider VAERS whistleblower showing 45,000 dead just for starters.
Stew Peters and Dr. Jane Ruby is on the case. Lawsuits being filed.
More here.
THE COUNTS
The NYSE both down volume and declining stocks versus up vol/advancers was about 83% to the downside across the board. Not earth shattering, but a very good “kickoff” perhaps.
The best Elliott Wave count is that the count is complete and we have seen the top. The first count follows all the Elliott Wave rules as far as wave overlaps, etc. This is again the extended wave (5) count. One can quibble with some spots, but it follows the rules.
The next best count – and perhaps the best – captures the spirit and structure of an extended wave (5) with an extended subwave 5 of (5), and in turn, an extended subwave [v] of 5 of (5). There can be no more extensions than three and this count fits the bill.
Wave (5) is abnormally long to wave (1). Then within wave (5), wave 5 of (5) is abnormally long compared to wave 1 of (5). And then finally within wave 5 of (5) itself, wave [v] of 5 of (5) is abnormally long compared to it’s sister wave [i] of 5 of (5). This is how we would expect to see a “classic” extended wave (5) and the market is trying to be “stealthy” about it but we can see though its lies.
If this count is correct, it implies utter exhaustion, because (5) has gone on far too long and has overstretched its hand in both time and price. The price collapse will profit very few, even the shorts are now trained to be completely cowed.
The price collapse would at least be 25% for starters back to beneath where wave (5) started at (4).
And thus it brings us to the top alternate count is that we still need to seek that Fibonacci 46,368 and this is the last pause. If this count is correct we need to see pretty much nothing but upside from here starting tomorrow.
I left wave 5 unlabeled, and imagine wave 5 is taking the form of an ending diagonal triangle. But you can see if we get even a bit more downside, this count can be discarded.
The Composite has 9 little bumps from the wave (4) spot. That counts as a completed impulse.
