A new bull market is coming that will wipe out many of the current bull markets.
Its chart looks good—building a base for decades, lately bursting through the top of its range. The ascent has been steep, pullbacks minor, and it looks like it’s gathering steam for a long run.
Anger is lifting off in what market technicians would call the first impulsive wave of a new bull market. That’s the technicians’ way of saying this is just the beginning. Punctuated by brief remissions, there are many more and much larger waves to come before this trend is exhausted.
One of the best technicians of them all, Robert Prechter, has spent his career analyzing the indicators and dynamics of social mood, his touchstone term that has yet to make it into the popular lexicon. By the time this trend exhausts, perhaps there will be more widespread recognition of both the term and its awesome power. The anger waves will lay waste to the best laid plans of mice, men, women, and whatever you want to call those witless, arrogant creatures who inhabit central banks, governments, and globalist fronts…and those who pull their strings. Continue reading