The charts I post cannot be found anywhere else, because no one is doing exactly what I am doing. The analysis is also different, not in its conclusions, anyone can ramble out guesses about market direction, but because no one but me looks at the markets with my eyes and my mind. It's not my conclusions that are uncommon, it is how I reach them that makes them so unusual. My integration of big picture patterns and short-term trends are not entirely one-of-a-kind analysis, but it does stand apart from most of what is available across the blogosphere.
The time I put into this blog is substantial. The markets are complicated, the aspirations here are demanding and the effort a true labor of love. I have had to develop a thick skin to deal with the wise asses who try to pick away at my ego, my analysis, my ideas. It comes with the territory.
Last night one of my readers judged my charts as,
........... kindergarten fingerpainting. The third wave of an impulsive five wave move should always be the most impulsive (most acute angle). Yours is the least so. GET was always dumb thirty years ago and still is at the top of the dumb charts.
Oh, you mean like this:
Two third waves appear above. The first from 2003 to 2007, during a rally phase. The second through most of 2008, the steepest, most impulsive wave during the entire six year range of prices on the chart. This is a monthly chart of the SPX, drawn with Elliott perfection by the same Advanced GET program labeled above as, "dumb."
Find this chart somewhere, anywhere else on the Internet, you won't. Now imagine just how much this single finger painting from my kindergarten tells us about the big picture economy and market we are in. This perspective may or may not end up being prescient about the future. But wouldn't you rather be exposed to this possibility, then rely on the relentless perma-bull crap that permeates the media and blathering stock market forums? We won't know until this pattern plays out whether or not it is correct in it's dire implications, but the psychology of this summer's ongoing rally is to dismiss this kind of bearish analysis out of hand, exactly the psychology that has accompanied every major top in the market for the past 50 years.
That's my rant for today. Take it for what it's worth. But I believe this current rally will end badly and with each passing day, that end is ever so much closer.