tendency

tendency

Up front I have no position in TSLA just an interested observer. To my eye, and count, looks like a classic case of a blow-off 5th to end an incredible 3rd wave. Would not want to be long this sucker. As always with bubbles/blow-off 5ths it can keep blowing-off for awhile longer but it's getting very close to a major pullback IMO.

tendency

GC/Gold/GLD look to have put in another multi-year top. Expecting pain for the bulls over the next couple years followed by a big multi-year 3rd wave leg much higher.

tendency

TSLA, to my eyes and count, appears to be topping in a multi-year 3rd wave. We should have a health 18-24 month correction followed by a final multi-year leg up.

tendency

Rarefied air up here very close to multi-year top IMO. Sure, we can grind higher for a few months .. but all you buyers, look at the trajectory of this weekly chart. Do you really think it can keep going straight up for much longer?

tendency

Do we have a multi-year top completed in AMZN? People are keen on the bull pennant (in green) however something more nefarious may be playing out...

tendency

I know everyone and their dog believes we are in a bull pennant and are looking for another leg up; however, I present the bearish case. I can make a solid case for AMZN having completed a multi-year run and has begun, in fact, the correction process off that top.

tendency

Leaning towards this count for GOOGL (and NAS) as my primary. Top of 3rd wave, IMO, beckons shortly. Would expect a 18-24 month correction to follow followed by 5-7 year rally.

tendency

Hello all - I'm coming out of the wood work for a rare chart post. Very simple elliot wave chart - the simpler the better IMO. It appears to this humble chart prognosticator that the odds are increasingly likely we are close to completing a multi-year top in the indices. Buyer beware.