Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Central Bank Ponzi-Regimes to the Rescue of Financial Markets

Stock-Markets / Central Banks Aug 11, 2007 - 09:09 AM GMT

By: Joseph_Russo

Stock-Markets

Kindly indulge us - as we pen this week's intro with the spirit and dark-humor of a Dennis Miller-like rant.

We cannot help but find it quite amusing that:

The titan institutions currently adhering to egregiously mutated paradigm-doctrines, handed down by their founding architects - the global cartel of central banks - (financial engineers of worthless marked-to-nothing fiat-paper) suddenly find themselves scrambling to affect “rescue” across a broad spectrum of over-bloated markets, from a systemically induced crisis of inevitability - spawned from the godfather of all Ponzi-schemes from which they preside.


In a rather twisted analogy: (To wrap this rant)

The above is akin to continually re-appointing a board of known-pedophiles and sex-offenders to preside over a conglomerate-monopoly of worldwide-playgrounds and child-care centers. Having provided such board appointments with full-unfettered power in maintaining hands-on controlling interest, ( for reasons yet established by the author) we then collectively harbor the brilliance of mind, to rely exclusively upon the appointees for remedy, savior, and solution to the vicious cycles of child-abuse repeatedly experienced on their watch. – Have we all gone completely mad?

Making Waves:

From our perspective, the only remotely positive effect of such compounded, incessant meddling in supposed free-markets – are the unmistakable footprints of Elliott Waves - which remain clearly marked in the wake of such malfeasance.

The Week in Review:

Edit Chart

General Equity Indices singing like canary's - to the global cartel of central bankers…

…“Catch Us Now – We're Falling”

(From historic and unprecedented all-time highs)  

The NDX:

After treading briefly below last weeks support-line, the NDX managed to close spot-on this critical trendline boundary.

Barely hanging on to what little remains as a zone of comfort – a narrow weekly close inside the boundary of its longer-term bullish-uptrend channel - the NDX has its work cutout in the days and weeks ahead.

Despite cries of financial Armageddon…

This Super-Cycle Bull may have been stirred – but it has yet to be shaken

One should remain open-minded in reluctantly maintaining necessary levels of collective psychotic-optimism, hinged of course, upon the promise and hope of a sustainable success to the Fed-led rescue efforts now underway.

However, in the event such omnipotent forces of world influence flat-out fail, one should also continue to brace prudently for the worst.

At the pilot's continued request, please keep your safety belts securely fastened, and your seat backs in their standard upright positions.

A Financial PANIC and Crisis-situation on par with 911?

They have got to be kidding us, right?

In our view, the current crisis has spawned from titan institutions adopting a perpetual debt-based prosperity paradigm. Such a cumulative, inevitable, systemic-born crisis resulting from such doctrine, will ultimately require a complete dismantling, and total reconstruction from the ground up.

The recent malaise is a result of yet another cumulative miss-step, layered atop decades of such hubris, in ruling authorities attempt to perpetuate, shape, subvert, and distort the otherwise natural order of free-markets.

Authoritarian Free Enterprise aside

The Elliott Waves continue to reveal their footprints with glaring clarity. The immediate $64-trillion-dollar question - is whether this antiquated, and elite system of inevitable misfortune, has finally placed its last straw atop the peoples back.

We shall soon find out whether the markets will be printing fresh historic highs by years-end, or begin unleashing a truly debilitating period of reckoning for many years to come.

Elliott Wave Technology remains at the forefront in producing unrivaled, well-organized, and stunningly accurate guides to long and short-term market forecasts.

For those compelled to participate and profit from such volatile, crisis-bearing opportunities, acquiring access to our adept and impartial council will provide the required competitive advantages in trading safely, and profitably - no matter what the market may deliver.

Such practical guidance will also render lasting utility in effectively balancing one's perceptions, and active engagement with financial markets, across all time-horizons.

The chart below documents last weeks short-term trade-triggers and price-targets captured from Elliott Wave Technology's Near Term Outlook .

 

For active traders of all time-horizons, there is no better road map for navigating market indices than the Near Term Outlook .

As evidenced by recent news of significant losses at “black-box” quant-funds, no mechanical trading systems or algorithms can anticipate directional moves with the agility, speed, and precision rendered by our adaptive method of short-term forecasting.

Now let's see how the rest of the majors performed last week… 

After setting fresh multi-year lows earlier in the week - following news that its manufacturers are taking a leadership role in “rescuing the world” from the effects of their “marked-to-nothing-but-faith” products and mutant offspring - The Dollar has curiously begun to stabilize.

After printing fresh lows for the move on Friday, The Dow managed to close marginally higher on the week, but remains stuck beneath the base of its previous trading range. Although overwhelmingly bullish longer-term, the Dow continues to show signs of vulnerability over the short-run.

Gold failed to follow through on last weeks feeble attempt at breaking above the previous weeks inside bar. As a result, we now have a potentially more powerful array, consisting of “two successive” inside compression bars. Next week should prove interesting.

Since it has been one of the worst recent performers, it is only fitting that The S&P closed the week with a wider margin of cushion above its recently weakened trend channel boundary.

Should readers have interest in obtaining access to Elliott Wave Technology's blog-page, kindly forward the author your e-mail address for private invitation.

Until next time …

Trade Better / Invest Smarter...

By Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Copyright © 2007 Elliott Wave Technology. All Rights Reserved.
Joseph Russo, presently the Publisher and Chief Market analyst for Elliott Wave Technology, has been studying Elliott Wave Theory, and the Technical Analysis of Financial Markets since 1991 and currently maintains active member status in the "Market Technicians Association." Joe continues to expand his body of knowledge through the MTA's accredited CMT program.

Joseph Russo Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in