Daneric's Elliott Waves

The casino market awaits the election as if it’ll make a difference one way or another. The Uniparty both marches to the tune of the New World Order. You better believe it. Kabuki theatre for the masses.

The squiggle count needs a lower low to form Minuette (i) of Minute [i] of Minor 3 of Intermediate (3) down.

Today’s low overlaps wave [a] of 2 which confirms the rise from the recent Minor 1 of (3) low an [a]-[b]-[c] corrective wave.

Yesterday’s FED-day CPCE.

Today went about as well as I could hope considering yesterday’s post warning that Minor 2 high was probably “in”. We did not get a 1-point rate hike but all the same the market head faked higher and then sold off bearishly into the low at the close. Today is the proposed “kickoff” of Minor 3 of Intermediate wave (3) down in the markets and being wave 3 of (3), this should be the strongest down wave(s) yet to come.

The path of least resistance is still downwards. If the count is correct, we are looking for the first Minute wave [i] of 3 of (3). Ideally, Minute [i] should again take prices lower than the previous lows, perhaps even much lower than shown here.

I’ve changed my tune somewhat tonight based on the last 2 trading days (which have gone sideways). The price action looks like “distribution” from strong hands to weak. All the “fever” of media news articles to come out since Friday’s ramp predicting higher prices now seem suspect. And we have a wave count to back it all up.

First things first. What will the Fed do tomorrow? Well, the 3/6-month yield chart suggests that 3/4-point raise is in the bag. However, if the Fed wants to “shock” the market in a truly negative way, a full 1-point rate hike is not off the table. In fact, had the 3-month yield been only a few ticks higher, that would be a done deal.

I have been saying the “marching orders” for the Fed (from Satan) for the past year is to not help the markets at all. And so, the odds of a full 1-point hike tomorrow resulting in the biggest market collapse in a long time is palpable. If not, nevermind.

Do we have a “stealth” ending diagonal triangle that does not actually overlap waves one and four? Could be. Advancing in a-b-c formations. The disparity between the “generals” (DJIA) and the “troops” (Nasdaq and the rest of the market) is quite glaring.

Retarded DOW, which is why I, don’t use it for primary overall count. I hate this count but the rapid rise since the recent low has been historic. Over 50% of the entire decline since peak.

The overall primary count of wave 3 of (3) down is a powerfully negative predicted wave. We may on the verge of the “kickoff” of the greatest downdraft the markets have seen in many a decade.

Friday nor today resulted in a NYSE breadth Thrust event.

China cracking…bad social mood will bring about war.

Courtesy Zero Hedge:

Well, today was a kick in the nuts for bears. The market is likely heading higher, perhaps closing the open gap down in the SPX. Today may have even triggered a NYSE “breadth thrust event” (13 days) as I like to call it. I won’t have that data until Monday though from Stockcharts.

Therefore, the count is much like Intermediate wave (2) in that wave “C” of (2) stretched itself out very bullishly (and then collapsed). It seems Minor 2 of (3) is doing the same. Wave [c] of 2 is stretching itself out to the fullest perhaps.

200 DMA seems “hell or bust”.

200 DMA seems a likely target.

The ultimate long term alternate count is that Intermediate (1) finished at the low and we are in an aggressive Intermediate (2) that will retrace quite some distance at least a Fibonacci 61.8% of the entire drop and perhaps even more.

At what point does this count come into play? The hourly squiggle chart (The first SPX chart in this post as shown above) is what we should be looking at. No need to get ahead of things. First things first. Allow the market to stretch its legs all the way to 4100 if need be before we talk about other counts.

Potential squiggle count if Minor 2 has topped. This sets up for a market down-type opening tomorrow and we’ll see how after hours goes. Futures are closed as I write this and have recovered about halfway and stand at ES 3791. So, whatever. We’ll see how they choose to push the overnight tape.

The DJIA is masking just how bad the market rot underneath has gotten. Almost “overbought” on the daily RSI, simply amazing.

The SPX peaked at 3886+ and I was looking for 3888 or so where wave [c] = [a] of 2. Close enough. Perhaps Minor wave 2 has peaked. The pattern looks good and the time and price of the retrace is more than adequate. On the DJIA the retrace is quite deep.

Retail bullishness is back.

Wilshire daily shows prices have met horizontal resistance. Remember, a few weeks ago, everyone wanted out of this market. Now that prices are back toward 3900 today, many took the opportunity to do just that.

A major bond rally would not be surprising. Does that mean equities rally also? Not necessarily. I expect any positive correlation between equities and bonds to break. Hard down in stocks, panic-selling in a Minor wave 3 of (3) sending buyers into the “safe haven” of bonds. Just a thought.

The SPX is pathing in a way that the primary count has predicted. It is charting a Minor 2 of (3) rally and probably has more upside to go. [c] = [a] @ about 3888.

And it is weird how even after I have been predicting the Minor 1 low and was patient with it fully forming (I was) and have been predicting Minor 2 would trace a Fibonacci % higher in a “corrective” [a]-[b]-[c] pattern (it has), it still “feels” defeating as a long-term bear. Why is that even when we can reliably anticipate waves that when they happen, doubts still arise?

I really have no doubts and it is mostly based on my end times timeline. Because IF Armageddon will occur on or about 21 Sep 2028, THEN events will begin to ramp up exponentially. So far, the wars and rumors of wars has only gotten worse.

Hello 50 DMA. Maybe we go to the 200 DMA. There is a strong double Fib retrace relationship at about 4000 SPX. Note how Intermediate (2) wave C expanded in relationship to its wave A. Yet the entire thing went down anyway and made significant new lows. I expect the same to happen here in an even more bearish downturn.

The CPCE has solid trends in place. Yesterday’s .55 daily reading (today should also be a strong call buying day) is bringing the 10-day MA down to its up-trend line. I am expecting the 10-day MA (green) to hit this line (at least) before the collapse of (3) comes upon the market.

As a final note, well, that Democrat turnaround from “give peace a chance” to “never mind it was the intern’s fault, bring on war” in less than 24 hours proves who is running this world. It is Satan in control of all political power structures, and if I am correct, he has given his Antichrist, his “chosen one” Zelenskyy real power over the earth. And who is to argue? Whatever Zelenskyy wants he seems to get ever since the war started. Even Musk who started to complain about the cost of Starlink services quickly and quietly said “never mind”, I’ll pay for it.

And why wouldn’t he? The globalists have allowed him untold riches and now they want favors in return in support of the globalist New World Order. Elon is a globalist also.

Soon the “False Prophet” will also begin to rise to power. We see that Boris Johnson will consider taking up permanent lobbying in America for Zelenskyy. He and Elon Musk are the frontrunners for False Prophet.

Sigh. I hope I’m wrong about everything. I hope China doesn’t attack Taiwan soon.

But if I am correct, the stock market will crater as part of the plan for a global reset. It ain’t hard to understand folks. Tear down the old system first, create chaos, war and disorder in the world, famine, disease and death, and there you go. People will clamor for the solutions offered by the Globalists/Satanists.

There are now enough waves in place to consider that Minor 2 of (3) is complete. The SPX poked above its prior Minute [iv] of 1 price peak, and the Wilshire 5000 did not. Sometimes that slight divergence between the 2 indices is telling. We shall see.

However, timewise and pricewise, it would look better if Minor 2 advanced a bit higher in price.

We’ll call wave [b] a running contracting triangle. [c] = [a] @ higher prices.

Oversold has been well worked off setting the market up for a massive plunge. To fulfill the positive RSI divergence prices would have to go above Minute [iv] of 1. The SPX did today the Wilshire did not.