Elliott Wave 5.0 "Reboot"

Sunday, January 24, 2016

Crude Oil Bear Market Keyword Phrases!

At every major bottom or major top I can find a few keywords that to the majority will be just part of the bearish noise and mean nothing, but for a contrarian or any wave analysis they are crucial keywords that give us clues that a strong or even a major bottom is close at hand. Headlines on magazines do the same thing, especially when they are published  from magazines that normally have nothing to do with oil. 

It is never about the news stories by themselves, but it's about the intensity that surrounds these stories.  Most expert analysts will just regurgitate this news. The last thing they want to do is report something that is not the same tune as the pack.  In other words news reporters, and even all Elliott Wave analysts have a herd mentality with them.  I would be extremely surprised to see wave counters break from SC  or GSC degree oil wave counts or even break from the use of candlesticks in wave counting. 

My favorite keyword phrase at this bearish low is, "IEA Sees Risk of World Drowning in Oil".  Wow, they just figured this out now?  Everybody on this planet has been talking about the oil glut since the summer of 2015, so what the IEA sees now is extremely lagging information.  

Then the news story about crude oil, " almost worth nothing " adds to the bearish news. At what I may see as another bottom I collect extremely bearish news clips and this time I started a big 24x36 poster with many news clips on it. I  still have to import it, but I will add it to this posting when I can.