It seems the market is taking a run at the small open chart gap at the top near Intermediate wave (2) peak. The downtrend line is a potential stopping point. If wave (2) is taken out, then arguably a 5 wave move from October 2022 low has occurred and likely the market will make a stab at a new all-time high between now and February 2024.
But first things first. Just a ridiculous massive open chart gap up today.
Best squiggle count is that we are looking for the peak of wave iii of (c) of [ii].
It appears that 5 waves up to a VERY sharp wave (a) has formed. Perhaps we are finally seeing wave (b) weakness in some form of consolidation of the amazing gains made over the past many sessions. If wave [i] down is a falling wedge overlapping 5 wave “leading diagonal triangle” as it is labeled, we can expect a very sharp and very deep rebound and so far, that is the case. So, it’s not unexpected.
Last Friday triggered a Zweig Breadth Thrust event of only 6 days on the NYSE. Make of it what you will.
Expected bounce seems to be following through.
A back test of the underside of the broken channel line may be in store. That implies black ii is located much higher to the underside of the lower black channel line.
Primary count has this as another wave “two” bounce prior to the panic wave down “third of a third.”
The top alternate count is that a leading diagonal falling wedge count has formed a Minute [i] low and a larger and longer bounce will occur.
Zelenskky Antichrist news update: He certainly behaves like one:
Zelensky Exposed: Former Advisor Reveals How Ukrainian President Thinks He’s Omnipotent | ZeroHedge
I will say, that if Satan has indeed “anointed” Z-man as Satan’s “chosen one”, and promised he would rule the world, then it all makes sense. And is why he demands fealty from all world leaders.
As far as the stock market, we have a 5 wave move lower which is better (more bearish) than a 3 wave move. But will keep the count of a series of “ones and twos”. This implies that a surprise downside “third of a third” wave move is coming. Seems about right.
China charts starting to break. Social mood breaking lower…could lead to war with Taiwan.
CPCE indicating plenty of room for panic to occur.
One can sense that the mood has shifted solidly to the negative. Does this mean we should be contrarians and go against the grain? As they say, it takes bulls to make a bull market and if that is true, then on the flipside, it takes bears to make a bear market.
The market is actually a Ponzi scheme, and all our monies are based on nothing. If enough people come to this realization, then all true Ponzi’s collapse and quite instantly. We are not there yet at this point of realization. But someday I predict we will be.
I think, in all fairness, everyone agrees the current system is unsustainable. Therefore, the end logic is that it will manifest itself as such in a moment in time resulting in complete systemic failure and collapse. Everyone thinks they will be able to sense this coming moment and exit when they sense it. But the error is that if a mass realization of a failed system occurs all at once, as people typically do, the exits will be jammed. You will not be able to connect to your broker because the line will be busy. Or cut off completely. In the end game, the great panic will result in people being shutout. Everyone knows this to be true that has any sense of the market. Covid 2020 showed us what is in store.
The wave count is nicely bearish pointing to a swift decline. Am I wrong on the short-term squiggles? Or is it a Charlie Brown/Lucy with the football moment? All I know is that Jesus is coming back probably soon, and he hates the stock market. And it will be destroyed as it exists.
Therefore, I have God on my side in the end.
Junk debt is a good indicator of the overall state of risk appetite. And it seems to be impulsing back downward in solid fashion a long way from its frothy late 2021 peak.
Keeping an eye on China. The waves support a sharp negative mood movement. If it happens it actually means the mood has already shifted significantly negative. War can come as a result.
The daily shows the overall wave count. We have had 3 waves up from October 2022 wave (1) low to the July 2023 wave (2) peak. We have had 3 clear waves down since that July peak and 3 waves is “corrective” unless it unfolds into a larger structure and the 3 waves are just a series of “ones” and “twos”. That is the primary count is that this is a series of “ones” and “twos”. We are clearly reaching an inflection point not only short term, but intermediate term.
Proposed black wave “ii” up since the “i” low should not go above pink wave (ii) nor even come close to be honest. The wave count must “look” correct. The open gap down has now been filled and sometimes that is all the market wants to achieve. No nasty open gaps has been the rule of thumb. (Someday that will change).
No panic yet. The market will panic when it panics and not a moment too soon nor too late. We are trying to predict that but alas, the market frustrates the maximum amount of people always at any one given time. And though there is “reason” for the market to be bearish and crash, (wars, rumors of wars and outright popping of the Ponzi scheme) it will still occur on its own time schedule.
All I know is that Jesus IS coming back at some point in human history. Rather sooner than later. It’s coming up on 2000 years since his crucifixion and we don’t know that exact date (although I propose it was 28 April 28 AD), one has to ponder those 2000 years is a nice round number.
I present “predictive programming” from an article from “The Hill” from 06/06/21 written by a “think tank” “Jew” professors, Leonard and Michael Hochberg:
Could the US fight a four-front war? Not today | The Hill
The key paragraph comes at the end:
In assessing the danger that the U.S. faces, national security experts must consider the likelihood of coordinated action by our adversaries. What if the U.S. and its allies were confronted with a simultaneous four-front war waged against Ukraine, Taiwan and Israel with, for good measure, the North Koreans attacking South Korea and leveraging their nuclear deterrent while Iranians closed the Strait of Hormuz? Such attacks likely would be combined with cyber attacks on financial and physical infrastructure in the U.S.
The above was written in June 2021. He writes about Hamas in the article declaring war on Israel already at that time. The wars against Russian via Ukraine and now Israel via Hamas has come. We are only left with China versus Taiwan which is surely to come.
