As long as 16,456 holds in INDU, the bulls can buy whatever they want. As wave count goes, it looks like instead of a ABC flat, we have a DOUBLE ABC flat, which should end this morning and send stocks reeling. GL
Tuesday, April 15, 2014
Monday, April 14, 2014
Sunday, April 13, 2014
Saturday, April 12, 2014
Friday, April 11, 2014
Not likely. Bulls just can't shake that dead cat off their backs.
Thursday, April 10, 2014
For the hopeful, this is a curse. For the wary, it may be an opportunity. For those who understand, you are prepared. Wealth destruction is ugly. I wish it on no one; however, I didn't do a thing to create the precipice we are falling over. Nature corrects all excesses--no matter what Man does. No one controls the market--I mean, we, collectively, control only our two cents, which we use to vote for future reality--and EVERY vote counts. Technical analysis tries to tease out the message in the great perpetual polling machine. Academics tell us we are wasting our time: Price is nothing but a Random Walk into the future. We think differently: Price forms pattern and patterns are intelligible--if we understand their basis. As an Elliott Wave believer that basis is emotion, which is not quantifiable, which allows academics to dismiss us. If it's not science, it's meaningless. Love is not quantifiable, but it's very meaningful. Each of us has to sort out our relation to the market. I have mine, and it's telling me the artificial measures of the Fed have come to an end. Debt will now crush us. I'd be sad if I hadn't waited all these years to watch this tragedy play out--You can't play God with the forces of nature forever--even the richest country in this whole universe can't rig the laws of nature--which we don't understand. We only know enough to get us in one hell of a pickle. The next year or two will be about what went wrong. Ah, humanity!