OCTOBER 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,
- Suggest you read: WASHINGTON’S PLAN TO AVOID AN OUT OF CONTROL US DEBT PROBLEM
- Additionally: CENTRAL BANKS ENRICH A SELECT FEW AT THE EXPENSE OF MANY
- 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")
INTERMEDIATE TERM
- LAST MONTH 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.
SHORT TERM
- 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 expect a pull back top the 200 DMA (black line) but could possibly touch the lower support level (also drawn in black)
