Several people have emailed me recognizing that the price move from where Intermediate is labeled seems to be a clear “3” wave move to yesterday’s low. And since we had a clear 3 waves from the June low to , with today’s sharp rally, it could be the “kickoff” of a Minor wave C of Intermediate wave ; a flat count. It makes sense, the problem is interpreting the cycles right. I’m a full time trader living in Melbourne, Australia. Due to the difference of time zone, I am actively trading currency and futures markets. My trading approach is simple, trend following with patten recognition.

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. The Wilshire 5000 finally also dipped beneath the June lows. The best guess count is today could be the Minute 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. The top alternate is that Minor 1 actually finished at Friday’s low, the first subwave of Intermediate .

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Each drama has resulted in practically an 11th hour deal. This latest one almost brought the US to default Danerics Elliott Waves . It’s hard to believe we suddenly figure out how to solve the next issue in a more timely manner.

The trouble most people get into with Ewave is coming up with a thesis, then struggling to find a count that will fit it. Given Ewave is rather subjective, that is an easy trap to fall into. I am not the only one to come up with that US dollar count.

~ Mish’s Global Economic Trend Analysis

Real Estate looks to have made a short term bottom so I’m looking to grab a position this week for a leg up. For EW theory, markets move following a basic structure of a 5 wave advance and 3 wave retrace. Five waves moves are in direction of the main trend, and are called “impulsive waves”. Three wave moves are countertrend moves, and are called “corrective waves”. And of course, it is a possibility and is the most bullish count we can dream up at the moment.

• During last year and even during the beginning of this year I lost a lot of money being long stocks, which made me aware and awake to short selling.
• This is the implementation of the New World Order as we know it.
• Moving forward, I think I have a better grasp of reading the cycle and will evaluate more as we go.
• Unfortunately, as Kailash Concepts explains, debt itself is a significant risk.
• What matters to me is how investors react to what happens to the market?

The very volatility is bearish, and any bounce is considered an opportunity to “get out”. Again, we can label today as Minute price low, but it would look better if it finished a bit lower, bounce hard in Minute , and then bleed much lower in finishing Minor 1 of down. 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.

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Some market volatility can adjust that properly. What matters to me is how investors react to what happens to the market? So let’s say price starts going down…based on all the buying last few days and lack of support, there’s a lot of stops to trigger. More stops triggered lead to more selling and it’s a cascading effect. So, even though something small in the news may trigger the snowball https://wave-accounting.net/ effect, it’s probably meaningless news in hindsight. By the time prices really snowball, then the media is like “Oh yea – it’s because of X” and it’s some big event that only becomes easily discernible after most of the damage has been done. I don’t really know what to make of it but RE, commodities, emerging markets have all sucked hard while SPX has been making new all time highs each day.

• The Wilshire 5000 finally also dipped beneath the June lows.
• Seems the best count at the moment and the open gap at about 3750 will be closed.
• The crowd is almost always on the wrong side of the market.
• You should consider that wave C is impulsive and has to show 5 waves, and that there are relations between the corrective pattern in which wave C is in .
• Sooner or later, Russia’s pipelines will be sabotaged.
• Mike “Mish” Shedlock is a registered investment advisor representative for SitkaPacific Capital Management.