It seems I was locked out of blogger due to some SSL problems combined with my computer locking up, I was frustrated and tired. I will try and catch up on a few updates as today saw some major crashing going on. The experts regurgitate the same theme over and over that it is all China's fault. I have second hand news from one of these
expert hosted investor confabs, and they all agree
In the past
, it was all of Greeces , then Russias fault and even Portugal fault was blamed for any downturn in stocks. Meanwhile, nobody is blaming Janet Yellen. Why not blame Donald Trump as when he gains in the polls the market goes down, but when he is losing, the markets head up! The best person or country to blame this stock market turmoil on, is our baby faced new PM. The world is acting like a stock market decline should not happen as there is no clear reason why it should.
Well, the markets don't run on reason and fundamental logic, they run on hope, greed, fear and liquidity, and a few years from now nobody will remember what caused this dip in the markets.
This bearish phase has been running since May 2015 and on a world scale 13 trillion has gone up in smoke already. That is a lot of cash going up in smoke with Yellen adding to this liquidity problem by raising rates. This bearish phase has already been running about 8 months and they just come up with a new reason in who to blame.
As of late today the markets crashed again to a new low, but it seemed to have crossed to this new low looking like an ending diagonal. That could all be my wishful thinking, but since May 2008 we had nothing but overlapping waves. Also, many big degree wave counters are trying to "force" the wave count into an impulse, or another way I may call it, is to "shoehorn a wave count" into a Minor degree impulse sequence. This will not work as the waves above are not impulse waves.
This crash has created a very steep angle and has not added on a pretty long, impressive spike so we could see a correction lasting much longer than anticipated, if not a downright run to retrace this entire crash. That would be my most favored scenario, but it may take the rest of this month to be more certain.
The VIX has also created a spike top looking like it has an ending diagonal as well, so
a I hope a bigger correction will start to play out. Even Apple would have to make an obvious 4th wave pattern otherwise its decline is also a three wave crossing to new lows.