NOVEMBER ELLIOTT WAVE: CONSOLIDATION HEADING TOWARDS "MINSKY PARABOLIC" SUPPORT LEVEL
BIG PICTURE - LONG TERM VIEW
- We are in the early stages of a "Minsky Melt-Up",
- Minsky Melt-Up ends just after the next US Presidential Election,
- Melt-Up began going parabolic with the US election of Donald Trump & his Fiscal & Tax Policies,
- Notice how long the recovery from a Fiat Currency Collapse / Re-Allignment will take the Global Economy from an Elliott Wave Count perspective (bottom right corner marked "IV")
TWO MONTHS AGO WE SAID:
- "We are presently looking for a corrective consolidation back to the S&P 500 200 DMA" -- This has been achieved,
- The consolidation is not over until we find support on the "Minsky Parabolic" shown in white below,
- The Parabolic pattern (in white) currently approximates the 200 DMA but is not an exact overlay. The white line is slightly lower.
LAST MONTH WE SAID THE FOLLOWING:
- We have reached the MATASII HPTZ (top right) which we have had in since prior to the last consolidation.
- Our proprietary MATA Momentum signal turned at precisely the right time giving us further assurance of the timing of the consolidation
WE ARE THE MIDST OF THE ANTICIPATED CONSOLIDATION / CORRECTION
HERE IS WHAT HAPPENED & OUR CURRENT OUTLOOK