The best 2 counts are still the same as yesterday. Either Minor 1 finished a few days ago at the intraday low, or it has a bit more to go. I prefer it finish lower, but either way, the structure is solid.
The Dailys are showing double positive divergence still. If a hard rally bounce Minor 2 plays out starting tomorrow, expect prices to go a bit above the previous Minute [iv] peak of Minor 1 of (3) down to form a healthy Minor 2 of (3).
The DJIA has been diverging from the other indices. It too would look better to make a lower low so that we have a solid 5 waves down from (2).
The more the Russians attack infrastructure within Ukraine, the more the likelihood of some kind of infrastructure retaliation inside Russia itself. I think this is what Team Babylon USA-NATO ultimately want. They have desired wanton destruction in Ukraine so that we are more apt to escalate and get directly involved. A reason to provide Ukraine with the most advanced long-range missiles capable of damaging targets within Russia itself. Or a reason to enact a no-fly zone.
The West wants Russia to commit itself full-scale in its war with Ukraine. To commit even more military to advance within the country. For when this happens, NATO could get involved and with much of Russia’s conventional military on the move toward Kiev (again), the trap will be sprung. A half squadron of A-10’s would have made mincemeat out of any 40-mile-long convoy as was earlier in the campaign.
This makes sense as the West will not stop until Russia is subdued as a threat to Team Babylon New World Order. Putin himself may actually be in on the global conspiracy to create a one world government as I have suggested numerous times before as he is a card-carrying WEF member. Regardless, Satan has put it in his heart to wage war and even more war, for what purpose we can only guess.
But it is clear most of NATO is itching for a fight with Russia. This can only happen if Russia keeps indiscriminately attacking Ukraine and creating a “humanitarian crisis”. After all, winter is coming and tens of millions without power, water, heating, etc. will give the rest of the world a reason to get involved. Putin has taken the bait once again.
THE WAVE COUNTS
Both the SPX and Wilshire 5000 have confirmed with today’s new 2022 intraday low that 5 waves have occurred since the wave (2) peak. This would form Minor 1 of (3) down. We can then expect a bound for Minor 2, and then the markets would be setup for a major crash in 3 of (3) down.
I hate to be nitpicky, but I’m a bit disappointed Minor 1 is not much lower in price. Perhaps today’s low was only subwave (i) of [v] of 1 of (3) down. regardless, it’s a wonderful Elliott Wave structure.
The escalation of the war in Ukraine is purposeful and meant to provoke Russia into attacking with missile strikes. We have now pledged more air defense systems. The more Putin attacks, the more NATO will be given the excuse to enact a no-fly zone over Ukraine in which of course the pledged missile defense systems are the first step. Sooner or later the war will go “hot” between NATO and Russia. That is what Satan and the Antichrist (Zelenskyy) want.
At some point China will attack Taiwan, the weather window for a cross-strait invasion is late October/November month timeframe. Global financial collapse is not too far off.
I am not worried about complete nuclear annihilation as in ICBM’s launching worldwide. Bible prophecy does not suggest that the world ends this way. No, the world as we know it ends when the Antichrist takes full power over the one world government and starts to persecute and kill Christians all over the world. Jesus then comes back at the First Resurrection/Rapture and God’s wrath begins to pour out on the earth for real.
So, who is the coming False Prophet? I still think Elon Musk is a strong possibility.
Remember, Satan’s hates all of mankind, not just Christians. He wishes to provoke nuclear annihilation and at some point, I do think a nuclear warhead, perhaps a tactical smaller warhead, will be detonated. But God will not allow a global ICBM exchange. Satan is limited in what he is allowed to do.
Revelation chapter 12 sheds some light on what Satan is trying to do in the end times. The “flood” Satan casts out of his mouth is the flood of armies and weapons trying to get mankind to annihilate itself. The woman in Revelation 12 represents Eve, the mother of all of mankind. Satan is trying to kill all of mankind. But when he fails, he goes after the Christians and demands everyone else worship him.
15 And the serpent cast out of his mouth water as a flood after the woman, that he might cause her to be carried away of the flood.
16 And the earth helped the woman, and the earth opened her mouth, and swallowed up the flood which the dragon cast out of his mouth.
17 And the dragon was wroth with the woman, and went to make war with the remnant of her seed, which keep the commandments of God, and have the testimony of Jesus Christ.
ORIGINAL POST
The SPX came within 4 points of a new intraday low for 2022 and “officially” confirm 5 waves down from (2). So, it would look better if it did make a lower low to make the 5-wave move confirmed. But either way, close enough.
The Composite did make a new 2022 low and it has been the downside leader.
Wilshire also came close to a new 2022 intraday low but not quite.
Minute [v] of Minor 1 of Intermediate (3) down is the primary count and today didn’t disappoint. We only need a lower intraday low to confirm 5 waves from (2), and that would confirm the overall bearish count.
The primary wave count is Minute [v] of Minor 1 of Intermediate (3) is commencing. It has been 2 down days in a row since the 2-day surge earlier this week. The wave pattern is setup for a lower low confirming yet another solid 5 wave pattern down from the Intermediate (2) price high.
Otherwise, if prices continue to rise, the 2 alternate counts shown on Tuesday still are to be considered. The key wave level is prices cannot break into the Minute [i] low, but if prices actually got near there then we can probably already call this Minor 2 and not Minute [iv].
The 40-year credit expansion binge is over folks. Even if they wanted to reinflate the Ponzi, social mood will likely foil any attempt. Yes, a big bounce is probably coming to form wave [2] but like I said, “debt” is not really an investment at all. It is an IOU. A promise that can be broken. An illusion. It is a manmade form of usury which God forbids. It is evil. The entire system is an abomination. And if it drops to zero from here, all the better.
Just because I keep putting a [1] there, doesn’t mean that it is [1]. Maybe it’s getting close to a “third of a third” down. Sure, looks like a waterfall to me.
Well, the primary count looks about perfect as long as prices do not go much higher. Otherwise, we’ll have to consider the alternate counts presented in yesterday’s update.
I was sure the day would end positive but the last hour bearish price action that led to all three major indexes closing red for the day was perhaps telling.
Basically, a poke above 3800 resistance and then a slap down. Tomorrow we shall see how convicted people are (or the machines) to buy this market at these levels. My gut tells me if tomorrow is a relatively “flat” open, then selling will commence very hard not creating a mega-gap down.
Actually, in my bearish mind, any market open tomorrow presents a potential bearish outlook. Gap down, gap up, or flat. How’s that for a bearish outlook? LOL, I have the end of the world as we know it on my side.
Well, the wave count went about as I expected last night but I did not see it being such one-sided strong market internals. It was a very solid 90%+ up day across the board in the NYSE to include volume and advancers versus decliners. This is a rare event to have a 90%+ up day in both categories.
We have 3 counts to consider after today’s market action.
The first is the primary count of wave (c) of Minute [iv] 3-3-5 expanded flat and that a reversal down is coming very soon within a day or so. The key wave marker for this count is the price low of Minute [i]. Prices cannot go above that. If they did, we have an alternate count, see the second chart.
We have nice channeling still and a bit more room for upside to stay inside the down channel.
The top alternate is that Minor 1 actually finished at Friday’s low, the first subwave of Intermediate (3). This retrace ideally should stay below Fib 75% retrace (the upper gap just below [ii]) or else it would start to resemble our 2nd alternate count which is the third chart and I use the daily for that illustration. remember, I have been trying to determine if Minute [iii] or even Minor 1 has made its price low so it looks like a decent count.
The third count is that Intermediate wave (2) traced three waves to “A”, then three waves down to “B” and this is now the “kickoff” rally to five waves for wave C of a 3-3-5 downward flat Intermediate wave (2) and the rally will likely take many weeks maybe even through Thanksgiving. This would probably be the most painful market pathing for the most players involved, and the strong follow-through today is very bullish.
However, there are many people wanting out of this market and social mood is deteriorating so further price gains through higher resistance levels would be a slog. The red horizontal line is really first resistance and prices are just coming up to it.
Remember, the market “bottomed” below 3600 Friday and the 2-day bounce to 3790 has relatively been “resistance free” so far. Higher price levels above from here things get more serious and that is why this is the 3rd count because we are charting the end times anyways and there exists considerable resistance layers for the market to get back to 4250ish….
But it’s been a very weird market and very turbulent. We could just as well have a 90% down day across the board tomorrow or Friday. Or a tactical nuke could go off…
The only thing that bums me out for the immediate bearish pathing is that headlines like Marketwatch still are very cautious even after the end of today. The contrarian in me says we go higher because I am so used to predicting doom and the opposite happens.
However, we have the end of the world thing going on, so we have that going for us.
Marketwatch is however correct. “This is not healthy” is very true. And those assclowns have to show a needle, yes they suck. yeah, there are a lot of people in pain from the “Covaids” shot.
If my end times bible prophecy timelines are correct, then Zelenskyy fits the profile of the Antichrist of Revelation. And if Zelenskyy is the Antichrist he will “win”. And if he is the Antichrist, things are going to start to speed up on a global scale as everything has only a few short years left to play out prior to the “Abomination of Desolations” predicted to occur in April 2025. This is when Zelenskyy dies for 3 days and comes back to life and Satan possesses him and the False Prophet sets up a graven image that must be worshipped in order to receive the mark of the beast. This is the implementation of the New World Order as we know it.
One world government, one world religion (Satan), one world currency (mark of the beast – likely a digital currency via implanted chip in the right hand or forehead)
When Zelenskyy declares himself to be the Jewish Messiah – the second coming of “Christ” – that brings peace to the earth and demands to be worshipped, that is when God casts a great delusion globally on the unrighteous so that they will believe the lie. This is when total persecution – The Great Tribulation Jesus spoke of in Matthew 24 – of Christians worldwide will occur. Jesus raptures us in the First Resurrection/Rapture approximately 70 days after the Abominations of Desolations occurs. That is the general outline of things.
But first things first. The Satanists need global war and financial system collapse to break down the old system first. Once global war and famine occur on a large scale, eventually people will clamor for a “solution”. And the globalists will be happy to provide it and it’s called the New World Order. And eventually Zelenskyy will be selected as its leader. Real power given to him by Satan.
But Satan wants us all dead. The bible says in Revelation 12 that he goes after the woman – who represents Eve (mother of all of mankind) – and it ends in a “flood” and the earth swallowed up the flood and then Satan went after Christians. Satan tries to kill off mankind, but God will not allow it. And so, Satan does the next best thing he makes war with the saved Christians and wins through the Antichrist.
How will Satan try to kill all of mankind? Through the use of nuclear weapons would be the obvious answer. But again, God will not allow nuclear annihilation of the earth as the way the world ends. (The bible only suggests that Babylon – USA – is destroyed by nuclear weapons but that is just prior to Armageddon, the day Jesus comes on a white horse with all of us saved and Satan is defeated and locked away in Hell for 1000 years.)
WWI brought us the League of Nations. WWII brought us the United Nations. Both attempts to a global government. WWIII will bring us the New World Order. The 10 nuclear armed nations of the end times will all “agree” to not use nuclear weapons, and this will bring about “peace” on the earth after global turmoil and war. And if this is how peace is brought about, then one must ask, if this is how peace is achieved, it implies that nuclear weapons were actually used as some point.
The world is full of tactical nukes. I don’t think any ICBM’s will be launched prior to the Abominations of Desolations, but there is an excellent chance a tactical nuke will be purposely detonated. And how would anything be proved otherwise if it does? The evidence destroys itself.
Who blew up the Nord stream pipelines? In a normal war, this would have already been celebrated and declared. But in the quest for global chaos, it is nothing but lies coming from most directions.
Do not rule out the use of a tactical nuke somewhere to get the global chaos ball “rolling”.
And China is chomping at the bit to attack Tawain. The weather window of late October/November is almost here. They are likely building forces under the guise of “ramped up military pressure due to provocations of the U.S.” and this is NOT being reported in opposite fashion that the Russian buildup WAS reported. I expect the opposite with Taiwan, and it will be a “surprise” attack. (Although our intelligence can damn well see what is likely going on)
THE COUNTS
There are 3 waves from pink (a) to Friday’s low which could mean that today was “kickoff” of wave (c) of Minute [iv]. Otherwise, the best alt is that Minor 1 of (3) down has occurred. Seems the best count at the moment and the open gap at about 3750 will be closed.
The Wilshire 5000 finally also dipped beneath the June lows. The best guess count is today could be the Minute [iii] low. Yesterday’s 90% up day was an “e” wave of an expanding triangle. “E” waves make one feels as though a reversal is happening but then prices reverse yet again and make a new low which is exactly what happened. I missed the potential “e” wave partially because Stock charts regularly – for whatever reason – ruins the Wilshire chart to where you have to “mask” the glitch price moves in order to count waves properly.
And it could be that again, I am shortchanging Minute [iii] low and it hasn’t happened yet.
The SPX presents the best view at the moment and the expanding triangle count that faked everyone out yesterday including me. But I have been warning, it’s best not to assume wave bounces in a nasty bear market. Even though yesterday was a very solid market internal day, the overnight futures were easily manipulated into opening a megagap lower. So, the “conviction” to buying this market is still not there for more than a day bounce, at least for now.
Again, we can label today as Minute [iii] price low, but it would look better if it finished a bit lower, bounce hard in Minute [iv], and then bleed much lower in finishing Minor 1 of (3) down.
This market is very volatile day in and day out. The very volatility is bearish, and any bounce is considered an opportunity to “get out”.
Dollar met the upper trendline as was suggested a few weeks or so ago.
China breaking down? That very long term trendline is key. Of course, if this is the end of the world as we know it, it’s going to break under sooner rather than later. And then once Pooh Bear is “elected” dictator for life next month, he attacks Taiwan.
Late October/November is the best weather window for a cross-strait invasion. Otherwise, they have to wait another whole year in my humble opinion. I think it comes this year. They are itching to fight, and Biden is at his most vulnerable as he barely knows what day it is. Are we living in the Twilight Zone or what?
Get saved to Jesus to ensure your ticket to Paradise. Getting saved is as easy as drinking a glass of water or going through a door. You need only believe that he died for you and call on his name for eternal salvation, there is nothing else required.
Most of “Christianity” pollutes salvation and mixes it with self “works” and that is why the path is narrow to Heaven and few be saved. Few actually trust on Jesus 100% and what he did for us and instead divide their trust mostly on themselves.
