Stock Market Panic - Pending

Below are the closing words from Robert Prechter's latest (Mar 17) Elliott Wave Theorist (free copy of Feb EWT, plus other EWI content available here):

"Figure 9 shows five waves down and three waves up in the S&P since March 6, which shows up most clearly in the S&P Globex (round-the-clock) futures. You know what “five down, three up” means: more decline ahead. The latest rally was yet another second wave, so the probability of a stock market panic beginning right now is very high."

 

Our own most recent Weekend Update discussed this pattern and forecast as it dovetails with multiple market index Sell Signals, most importantly the latest generated by the Russell 2000 (IWM): 

The IWM April $180P has risen over 250% since I recommended it to subscribers on March 7th. Since the center and most intense portion of the decline, Wave 3 of (3), is still to come, it's not too late to get on board this, or a half dozen of our other picks, that have the potential to rise exponentially in the next leg down, a stock market collapse. There will no second chances this time, not in our lifetimes. 

WFC - Wells Fargo to single digits? Pattern recognition says it's only a matter of time. 

WFC Jun puts were recommended to Blue Line Trading System subscribers on both Wednesday and Thursday of last week as its Trading Model generated a fresh Sell Signal while Pattern recognition analysis identified a Wave 3 of (3) in its early stages. Big banks are on edge, waiting for the next shoe to drop. This price pattern suggests won't be long. 

Personal Note from Allan: Two-Week Promo Code Extension

Last weekend I indicated that the the 99% first month discount pricing special was ending. It has been a great way to increase my subscription base as most who take me up on the one month trial for virtually nothing are staying with the service well past the deeply discounted first month. For that I am grateful and have decided to extend the promotion one last time, until the end of March, not only because of what's coming in the next two weeks, but because of the great buying opportunity that will follow this year's lows. Pattern recognition goes both ways, not just down, i.e., TSLA 2019-2021 when our buy and hold Jan 2021 calls were up close to 11,000%. (No, I'm never going to let that one go.) 

Last Call

This Promo Ends March 31, 2023