While Everyone on 'the News'
Called for $100 Oil.
The wave count called for an Oil Price Crash!
On Tuesday October 2nd,
Crude oil was trading at $75.00 for the first time in 4 years.
Jim Cramer on CNBC said;
"don't let an overdeveloped sense of caution
trick you into missing these straightforward moves,
it could cost you!"
Sept 25th - Don't overthink—the oil rally is for real!
Bullish commentary on CNBC did not stop there!
Oct 1st - OPEC 'powerless to prevent' oil jumping toward $100 a barrel this year.
Oct 1st - "$100 a barrel oil now looks possible, if not inevitable" .
Oct 3rd - The oil market 'fever' pushing prices toward $100 won't break soon.
An over-bullish mania type behavior had gripped the market and the news.
But;
At the very same time;
My Elliott wave count quietly suggested a different future for Crude prices!
I knew a crash was coming soon!
On Oct 2nd,
I published this article;
.
NO THIS IS NOT A NEW BULL MARKET IN CRUDE OIL!!
Prices were at a 4 year high, and the world was consumed with oil price fever!
But in that article I said;
"The scene is set for another horrible decline in the oil price,
the wave count says so,
and the futures market agrees!"
Heres a chart from that nights update:
The chart called for one more pop to the upside and then a crash!
Heres what happened:
The very next day, on Oct 3rd,
the price rose into 76.72 at the top.
Since that update,
the oil price has crashed by 28% in one month!
Exactly in line with the wave count!
The price reached a new low this week of 54.75,
that makes a total fall of 2197 points in one month!
That's a hell of a long way off $100 a barrel,
hey Mr Cramer?
The news can never prepare you for a trend change!
But the wave principle can.
The new bear market in Crude is only just beginning.
We have a long way to go,
with a whole lot of ups and down's ahead.
Are you prepared for what comes next?
The next time,
don't get caught out by the talking heads on financial media.
I want you to be ahead of the game in every market!
So;
Check out Bullwaves membership offers.
.
Whats next for the Stock Market then??
Stocks are in a horribly precarious position right now!
And it is time to prepare for market chaos................
Heres the latest charts for the DOW:
Weekly:
We have now completed a five wave rally off the 2009 lows.
The market is set to retrace that whole rally over the coming cycle.
DAILY:
The rally in weave '5' of (5) has itself created a five wave structure.
And the price has now declined off the high in an impulse wave.
Which all suggests that the market declines are just beginning.
What comes next in wave '3' will blow your socks off!
The patterns in the market suggest a very large bear-market is only just beginning.
With possibility for a crash type move to happen over the next month.
It is not time to be complacent, like the rest of the world.
It is time to get prepared,
for what could be a bear-market unmatched by anything we have seen in our lifetimes!
Stay ahead of the cycle with Elliott wave analysis.
Check out Bullwaves membership offers.