Very nice impulse down and an immediate 3 wave move back up dealing with this ridiculous gap open down from yesterday. One could immediately think this is a bullish move but honestly had the market today moved to a lower low from yesterday and left us a muddled impulse pattern down, that would have been bad for the count. This was actually preferable concerning the wave. pattern.
So, the best outcome is that we get a spike gap up in Thursday morning to close the rest of the open chart gap and then selling. And that selling would continue and end of day ends on the low of the day. Otherwise whatever…
Well, last Spring in 2023, I was predicting a July 27th high based on a possible backup date for the 2nd seal of Revelation – global war. Obviously global war did not occur (although who can argue any longer that they are not trying their best to do so?). Yet the market topped on July 27th, and it held for a few months before being taken out recently. Then I pondered if the market would hold up until mid-February 2024 and it has.
My preferred date, here or about, was and is February 15th. 2024 and lo and behold the market has indeed held up until this time. Having peaked yesterday with a decent pullback today, we shall see.
The subwave count is still a best guess. But if we use simple peak RSI and assume (for now) that it represents the [iii] of 3 and we have a double negative divergence since then, the wave count is sufficient. There are enough waves in place and the upper trendline has been solidly touched and retreated.
The 3/6 month yield chart. One forgets that the meteor rise in rates occurred over a year ago and these levels were first entered in May/June 2023. If for example one posited that the CRE market was $1.2 Trillion unrealized losses hiding in the banks in the summer of 2023, well, that hasn’t changed. One could make the case; yields have been consolidating. The 3- and 6-month yields remain inverted to each other but if and when they un-invert, it could be a trigger for a greater market panic.
Remember, this is what controls whether the Fed cuts rates or raises them. When they say they are “watching” multiple sources and conflicting signals, what they really mean to say is they are watching this chart to tell them where to set rates. The market sets the rates not the Fed, the Fed follows, and it has always been so.
The reason the Fed has to keep the Fed short term lending rate in alignment with the short-term yield debt of the 3/6-month yields is simply because the Fed would create mass distortions across the quadrillion $$ interest rate derivative markets and besides the massive imbalances of arbitrages created would cause them to lose money beyond what the market is doing. Therefore, you are not going to see the Fed “all of a sudden” drop rates to near zero unless the market panics first. Yes, the market panicked in 2020 but the rates were already back down to 1.6% when the panic came, not the current 5.3%.
And if Satan is truly in control of his current wicked global financial kingdom (he is), the entire world is being set up for a massive collapse of his timing. The clues and signs are all around us. When one is trapped inside the bubble for so long, they no longer realize just how dangerous it has become.
Composite. Not yet a new all-time high. Twin peaks!
Possible long-term count on the DJIA:
The Chinese are not in a good mood. But there really hasn’t been a panic yet. More like a sharp second wave subwave bounce. Looking for prices to test the underside of the broken neckline(s). So far the 2018/2019 level has been support.
Officially the NYSE has also come short so far of a new All-time high. More market fractures. Today was a solid 90%+ down day across the board both declining stocks and in declining volume verses advancing stocks and volume. This is significant, this hasn’t happened since the big down day in June 2022. And this comes at a market high versus in June 2022 when the market had already been working its way down for 6 months.
CONCLUSION: I think the Ponzi bubble has already popped due to the rapid rise in interest rates which occurred a year ago. And the rates did not yet go down and may be consolidating for upside surprise. The wave count and pattern are sufficient to consider it complete and the upper trendline has been hit. Today’s market internals were bloody red just off a fresh all-time high even though the headline number of only a 1.37% market day loss seems tame, it may be more deceiving than not. I am not trying to make a big deal about one measly down day but for all the reasons (and more) mentioned above, I’m paying attention.
The system has been setup for collapse. Satan’s grand plan. I have been saying the bubble has already popped via the sharp interest rate rise. I’m certainly not the only one who sees what is going on underneath and behind the scenes:
Well, there you have it the S&P 500 finally went to new all-time highs.
Global markets at an all-time high (some of them anyway) but the Chinese are not in a very good mood. War threatens over Taiwan. Be not surprised if it breaks out on or about 15 February.
This is a very long dated trendline and it has broken.
Yes, I am still looking for the second seal of Revelation – “kickoff” of global war – on or about 15th February 2024. So, until then, the market may burst higher in a final wave 5 of [5].
The squiggle count seems about correct. If the all-time high is taken out, then prices may burst higher in a shot of unbridled exuberance perhaps even running to trendlines. A “surprise” upside that causes ALL to get on board. And then global war kicks off and the rug is pulled from the global financial system and the final collapse is finally upon us. The entire world trying to exit the global markets “en masse” in one instant of time will be a spectacular sight to behold.
They must first destroy the old-world order so that they can build the new.
I’m back. Had a nice Christmas break and nothing of too much note that happened in the markets anyway. The SPX still has not topped its intraday previous high.
The S&P total index is sort of equivalent to the Wilshire 5000 which is not available anymore on Stockcharts. It has overlapping waves.
And obviously the Composite has quite a bit of work left if it is to match its all-time high. So overall the market is fractured and that probably is not a good sign.
The 30-year bond count has been very nice and an expected bounce for wave [2] is in play.
The Fed has yet to cut rates but when the 3/6 month yield will tell them when. At the moment not yet. The 3/6 month led the rates higher, it will lead rates lower if that is to happen.
We have an extreme peak RSI on the daily SPX and clearly that has probably now been “marked” as peak due to today’s sharp drop. Usually, this peak RSI occurs at a subwave “three of three” wave peak, so I have adjusted the squiggles accordingly and am giving the market the benefit of the doubt to trace out a few more squiggles and make that new all-time intraday SPX high. We were due for a sharp pullback and if it continues there is a possibility of truncation of the SPX and it has “failed” to achieve a new all-time high.
I never understood why anyone would want to invest in this market, the Ponzi has popped, the interest rates have already risen enough to wreak havoc upon the market. Whether or not the market hangs on and continues for a while or not, make no mistake, the world is waxing worse and worse, and we are closer to the end than not: The day Satan pulls the plug on the financial snare that has long been in making and peace is taken from the earth. Satan has used his evil Judaism and Freemasonry to carry out his plans for well over 250 years. It is culminating in his coming plan to bring in his kingdom on earth.
We don’t know exactly when the day the global war will kick off but the signs are growing. I have been saying the market will experience a sudden destruction upon that day occurring. Satan is trying to suck in every last entity into his evil wicked market and will pull the plug so fast (by unleashing a sudden “flood” upon the earth) that everyone will head to the exits and there will not be enough room to get out.
We have a key wave marker. The elites need to keep this house of cards propped up as long as possible to keep financially carrying out their global war preparation plans. The best bet window is approximately 15 February, 2024, peace is taken from the earth and global warfare “kicks” off. We can bet that this will be the day of the start of a global financial collapse. Remember, the Jews and their Freemason lackeys have constructed the global system just for that one day to come. And it is surely coming.
Am I off by a year or even 2? We won’t know until about 1 March 2024. if no global war by then, I’m likely off my target.
In any case we are awaiting global war to kick off for the 2nd seal. If no global war, no second seal, no return of Jesus just yet. That is the order of things the bible teaches. Yes, I desire Jesus to come back and straighten this wicked world out, but unfortunately, is bible-believing actual saved Christians will be slaughtered en masse prior to his coming is what the bible actually teaches.
Remain faithful when the great tribulation comes and not a hair on your head will be hurt and you will make it alive in the flesh to that day of his glorious coming!
Since the July 2023 highs have been taken out, I tend to think the market may hold up and peak around 15 Feb 2024 which is my projected date for the second seal of Revelation total global war. This is another 2 months. Time for the bond count to play out and the SPX count in which it certainly seems new all-time highs are coming.
At least we seem to have a decent squiggle count. There has been virtually no pullback since the spike bottom of the last few months, and it wouldn’t make sense at this point that there will be if we are to imagine a 5-wave impulse up from (4) to (5).
China has yet to play along with the recent euphoria of world markets. I suppose a surprise attack on Taiwan come February would collapse the world markets. Certainly, Chinese negative social mood is setting itself up for war.
