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Joseph Russo

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Hope Floats: Fear Still Distant

Anchors Away:
The financial sphere along with the ruling army of entrenched corporate and political elites, deeply committed and harboring inordinate interest in perpetuating an unsustainable war/debt-based prosperity paradigm - are keeping their fingers tightly-crossed that "hope" and illusion, along with a likely forthcoming tsunami of ponzi-rigged bailout schemes will float the right number of boats - rather than sink the good-ship Lollie-Pop. It is in all of our best interest that all such hope truly "float," unlike the sinking anchor and shackle effects of fiat currency.

Ruling Elites:
A multi-generational mutation - spawning oblivious visionary-wizards of social decay, have been slowly digging their own graves for more than one-hundred years now. When the last of them finally finish the job, may those with genuinely good intent R.I.P, and those without R.I.H.

A long, long way to go - in getting to "UNCLE"
Delusion and denial will likely reign supreme for a period. Until fear grips societies at the undeniable and clear visible hand of widespread economic pain, business shall continue virtually unabated, in its usual arcane manner.

FULLY INTENT ON STAYING ONE-STEP AHEAD OF THE MARKETS:
Absent the noise, predictions, table pounding, speculation, headlines, and government reports, we continue to read price-charts with inordinate impartiality as if they were yesterday's news.

We are the Men in Black:
High volatility, low volatility, fresh historic highs, corrections, bull-markets, bear-markets, spikes, 3rd-waves, 5th-waves, 4th-waves, V-bottoms, double tops, turn-dates, super-cycles - whatever... Nothing gets past our radar - NOTHING.

A Dividend Paying Gift to Readers from Last Weeks Article:
Last week was unique in that we do not typically post actual price charts that appear in our short-term trading publications. Below is outcome to a chart, originally presented for public consumption in our Wilshire Revisited article published last week, on September 4:

NTO Traders Booking-Profits every which way from Sunday:
Those navigating in and out of broad market indices seeking short-term speculative profits continue to "make-bank" solely adhering to the evolution of price-action as implicitly conveyed through our unwavering branded art of technical analysis.

Last week's short-term trade and profit outcomes:
The following illustration exemplifies effects of our routine practice in identifying clear trade set-ups, and consistent achievement of price-targets, through Elliott Wave Technology's Near Term Outlook.

For active traders of all time-horizons, there is no better edge for navigating broad market indices than the Near Term Outlook.

The Week in Review:

The NASDAQ 100

The NDX:

Stinging like a bee in August - will "hope-float" the NDX back to a new high above 2060?

After three-weeks of unsustainable non-stop rally off the V-bottom low in August, the NDX must now stand-and-deliver into the heart of the "fall" season.

As we ponder such question, let us see how the balance of broad market indices' are floating into the month of September:

Re-testing multi-year lows, The Dollar remains under pressure and has a ways to go before reaching its lower trend channel boundary of support.

Though lagging the NDX in terms of snap-back percentages only, The Dow also maintains a level of "float-status" off the V-bottom low in August.

Gold has spoken - implying imminent anticipation toward a glut of global bailout schemes that will further erode purchasing power of the world's fiat currency's.

Though its trajectory channel is virtually flat in comparison to the Dow, The S&P is in "float-mode" just the same.

Should readers have interest in obtaining access to Elliott Wave Technology's blog-page, kindly forward the author your e-mail address for private invitation.

Visitors to the blog are encouraged to browse all of the page-archives to acquire a better sense of our unique brand of analysis and forecasting services.

Until next time ...

Trade Better / Invest Smarter...

 

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