Daneric's Elliott Waves

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.

COMMENTARY

I know it’s been a while since I wrote commentary, but nothing has changed. I still think we may have started the Daniel’s 70th week this past September 2021. The next biblical event would be a world at war which has clearly not happened. Yet in Daniel’s 70th week, warfare doesn’t come until the second seal is opened and the estimated time for that is June 2022.

I mean how many stories like this are we going to see where a hospital denies a dying person simple ivermectin and a judge has to get involved? The evilness is growing. The vaccines push has somewhat “paused” due to a lot of judgements against the government, yet the Supreme Court has ruled every time for the Pharma Pigs so far. Eventually all these cases will funnel up to the court.

Worldwide evil abounds. Satan has been cast down to earth and we await the Antichrist at the second seal opening.

The market is at a key junction. If it is to continue rallying, look for a top in the Spring 2022. Yet the Wilshire is not anywhere near its top at the moment.

The DJIA is a key index at the moment.

As is the NYSE.

Apple nearing a long term trendline.

Until the lower channel breaks, the trend is still up.

Top long term alternate is that prices run up through Spring 2022. In this case, I’m still looking for further pullback though for (4).

The best counts at the moment are the DJIA and the NYSE.

Craziest stair-stepping I have ever seen. I have no clue on the squiggle count.

Dow is a little clearer.