Author: Daneric

I remind that the Wilshire 5000 topped on 7 November, a full 2 months ago. The most bearish count is below. Although I seemingly gave up on the idea of an extended (5) for the Wilshire because of its persistence, the count is still valid at the moment.

And weekly, since the beginning of the year, its 2 down weeks in a row.

This is the alternate count (or primary if it breaks to new all-time highs) and the price action is range bound as if in a triangle. But many other indexes had broken higher such as the SPX and DJIA and GDOW and NYSE.

The black line is the long-term upper channel line

The GDOW is stretching its legs.

COMMENTARY

The illegal Biden regime had a huge win at the Supreme Court yesterday over the vaccine mandates. All the fake “news” media says it’s a loss for the Biden administration, but the health care mandate was upheld. It gave them a solid foot in the door for further infringement on constitutional rights.

Simply said, the precedent that the government can tell you what you must put in your body has now been set in stone. Huge win actually for the evil people.

All is intact. The GDOW made a new all-time high today.

If there is more “upside surprise” in store, we can probably say that Minor 1` and 2 of (5) has played out on every index we assign this pattern too. Therefore wave 3 of (5) is just underway.

The Wilshire 5000 is still in an ascending triangle type pattern. Until the key wave marker breaks, there is not much else to say. This supports the view that the market trudges on a few more months.

Actually, the key bearish wave marker is probably blue “C” of (4).

GDOW looks interesting. It is no wonder that all the world’s market rises and fall together. It is headed toward a one world government and one world financial system. In effect, it already is.

The Covid dystopia marches onward. Key Supreme Court hearing soon. I predict they will cave to the globalists.

The DJIA, NYSE, S&P500 all made new highs today. The Wilshire 5000’s intraday high is 5 Nov with a closing high 8 Nov. It’s taken about 7 stabs at a new intraday high since but has yet to overcome.

There are 2 patterns on the DJIA: The contracting triangle and expanding ending diagonal triangle.

Even the Global Dow made a new high today.

The DJIA made a new all-time high confirming its overall wave pattern.

We’ll see if the other indexes can follow through. The Wilshire 5000’s all-time high was back in the first week of November.

A thrust indeed has occurred which implies a triangle thrust. The Dow Jones Industrials was a mere 38 points from a new official intraday record and came about the same amount short for a new closing high. Yet the 6 day thrust event is only 50% of the 7 day thrust event that kicked off Intermediate (3). It’s holiday low volume.

And the Transports are lagging.

It is still very much a fractured market. Only the S&P 500 has made new highs. The Wilshire is still lagging. It would not surprise me if this schizoid market would fall apart here and now.

If the Wilshire makes a new high, we will have to abandon the extended wave (5) count and readjust to something simpler.

The Santa rally indeed. The S&P 500 came within a few points from another all-time high. The Wilshire’s pattern is intact with a perfect hit on the parallel upper line.

Again, if this is a “thrust” out of a long-winded triangle expect to see new all-time highs in 2022 or sooner. We can draw this pattern on every index we track.

What a schizophrenic market. It was a very strong up day internally. The Wilshire primary count has a wave [ii] flat count since we had clearly 3 waves down since pink (a).

The possible long-term alternate is that the market has triangulated in an effort to get higher yet again and this would take us well into the new year. I could make this pattern on almost every index including the DOW. The last few down days would have been the “head fake” “E” wave and today was the beginning of the “thrust” upwards. It will require follow-through so tomorrow will be interesting.

The good thing for the bears is if the market makes a new all-time high again, it should be short-lived as a thrust out of a very long-winded running triangle would be exhaustive at the end.

We are looking for an overall impulse 5 wave pattern down to indicate a change in trend. There is obviously a long way to go for that no matter how you count the squiggles.

The market is very fractured at the moment. New all-time high in the S&P 500 mini futures pre-market this morning. The SPX couldn’t match it and came within 12 points of another all-time high. Yet other indexes are seriously lagging (or leading). The SPX’s close twin, the Wilshire 5000 is quite diverging from the S&P. In fact, the Wilshire finished less than 50% retrace from its all-time high to its recent pivot low.

And the NADAQ Composite is some 6 1/2% from it’s intraday high last month.

The NYSE. If major support were to break, we would have confirmation the top is probably in.