• 612 days Will The ECB Continue To Hike Rates?
  • 612 days Forbes: Aramco Remains Largest Company In The Middle East
  • 614 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,014 days Could Crypto Overtake Traditional Investment?
  • 1,018 days Americans Still Quitting Jobs At Record Pace
  • 1,020 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,023 days Is The Dollar Too Strong?
  • 1,024 days Big Tech Disappoints Investors on Earnings Calls
  • 1,025 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,026 days China Is Quietly Trying To Distance Itself From Russia
  • 1,027 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,031 days Crypto Investors Won Big In 2021
  • 1,031 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,032 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,034 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,034 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,038 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,038 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,039 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,041 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

  1. Home
  2. Markets
  3. Other

A-one, An-a-two

Looking at the Elliott Wave patterns forming after the close yesterday, I found myself mouthing the 1-2 patterns in the style of Lawrence Welk; a-one, an-a-two, a-one, an-a-two. Checking Wikipedia to make sure I had Welk's style correct, I found that the Seattle Post-Intelligencer had eulogized Lawrence Welk on May 19, 1992 as the "Maestro of Bubbly." Ironic that here we are, ready to continue the next leg of the great unwinding of Maestro Greenspan's 'bubbles', being led in the style of (at least in my mind) the 'Maestro of Bubbly'!

A January 16 Missive "I Hear Bells" suggested that the markets were exhausted. The rising wedge completed two days later, and the pattern is a now a clear 1-2, 1-2 down.

After possibly a small push higher on Friday, or Tuesday, this pattern could quickly lead to a drop of 700 points with greater potential. If the pattern unfolds as expected, it will lead to larger drops later.

Alternative Elliott counts may suggest otherwise, but the prudent person stands aside while this pattern unfolds.

 

Back to homepage

Leave a comment

Leave a comment