Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
US Economy Has Been in an Economic Depression Since 2008 - 22nd Oct 21
Extreme Ratios Point to Gold and Silver Price Readjustments - 22nd Oct 21
Bitcoin $100K or Ethereum $10K—which happens first? - 22nd Oct 21
This Isn’t Sci-Fi: How AI Is About To Disrupt This $11 Trillion Industry - 22nd Oct 21
Ravencoin RVN About to EXPLODE to NEW HIGHS! Last Chance to Buy Before it goes to the MOON! - 21st Oct 21
Stock Market Animal Spirits Returning - 21st Oct 21
Inflation Advances, and So Does Gold — Except That It Doesn’t - 21st Oct 21
Why A.I. Is About To Trigger The Next Great Medical Breakthrough - 21st Oct 21
Gold Price Slowly Going Nowhere - 20th Oct 21
Shocking Numbers Show Government Crowding Out Real Economy - 20th Oct 21
Crude Oil Is in the Fast Lane, But Where Is It Going? - 20th Oct 21
3 Tech Stocks That Could Change The World - 20th Oct 21
Best AI Tech Stocks ETF and Investment Trusts - 19th Oct 21
Gold Mining Stocks: Will Investors Dump the Laggards? - 19th Oct 21
The Most Exciting Medical Breakthrough Of The Decade? - 19th Oct 21
Prices Rising as New Dangers Point to Hard Assets - 19th Oct 21
It’s not just Copper; GYX indicated cyclical the whole time - 19th Oct 21
Chinese Tech Stocks CCP Paranoia, VIES - Variable Interest Entities - 19th Oct 21
Inflation Peaked Again, Right? - 19th Oct 21
Gold Stocks Bouncing Hard - 19th Oct 21
Stock Market New Intermediate Bottom Forming? - 19th Oct 21
Beware, Gold Bulls — That’s the Beginning of the End - 18th Oct 21
Gold Price Flag Suggests A Big Rally May Start Soon - 18th Oct 21
Inflation Or Deflation – End Result Is Still Depression - 18th Oct 21
A.I. Breakthrough Could Disrupt the $11 Trillion Medical Sector - 18th Oct 21
US Economy and Stock Market Addicted to Deficit Spending - 17th Oct 21
The Gold Price And Inflation - 17th Oct 21
Went Long the Crude Oil? Beware of the Headwinds Ahead… - 17th Oct 21
Watch These Next-gen Cloud Computing Stocks - 17th Oct 21
Overclockers UK Custom Built PC 1 YEAR Use Review Verdict - Does it Still Work? - 16th Oct 21
Altonville Mine Tours Maze at Alton Towers Scarefest 2021 - 16th Oct 21
How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
The Only way to Crush Inflation (not stocks) - 14th Oct 21
Why "Losses Are the Norm" in the Stock Market - 14th Oct 21
Sub Species Castle Maze at Alton Towers Scarefest 2021 - 14th Oct 21
Which Wallet is Best for Storing NFTs? - 14th Oct 21
Ailing UK Pound Has Global Effects - 14th Oct 21
How to Get 6 Years Life Out of Your Overclocked PC System, Optimum GPU, CPU and MB Performance - 13th Oct 21
The Demand Shock of 2022 - 12th Oct 21
4 Reasons Why NFTs Could Be The Future - 12th Oct 21
Crimex Silver: Murder Most Foul - 12th Oct 21
Bitcoin Rockets In Preparation For Liftoff To $100,000 - 12th Oct 21
INTEL Tech Stock to the MOON! INTC 2000 vs 2021 Market Bubble WARNING - 11th Oct 21
AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
Stock Market Wall of Worry Meets NFPs - 11th Oct 21
Stock Market Intermediate Correction Continues - 11th Oct 21
China / US Stock Markets Divergence - 10th Oct 21
Can US Save Taiwan From China? Taiwan Strait Naval Battle - PLA vs 7th Fleet War Game Simulation - 10th Oct 21
Gold Price Outlook: The Inflation Chasm Between Europe and the US - 10th Oct 21
US Real Estate ETFs React To Rising Housing Market Mortgage Interest Rates - 10th Oct 21
US China War over Taiwan Simulation 2021, Invasion Forecast - Who Will Win? - 9th Oct 21
When Will the Fed Taper? - 9th Oct 21
Dancing with Ghouls and Ghosts at Alton Towers Scarefest 2021 - 9th Oct 21
Stock Market FOMO Going into Crash Season - 8th Oct 21
Scan Computers - Custom Build PC 6 Months Later, Reliability, Issues, Quality of Tech Support Review - 8th Oct 21
Gold and Silver: Your Financial Main Battle Tanks - 8th Oct 21
How to handle the “Twin Crises” Evergrande and Debt Ceiling Threatening Stocks - 8th Oct 21
Why a Peak in US Home Prices May Be Approaching - 8th Oct 21
Alton Towers Scarefest is BACK! Post Pandemic Frights Begin, What it's Like to Enter Scarefest 2021 - 8th Oct 21
AJ Bell vs II Interactive Investor - Which Platform is Best for Buying US FAANG Stocks UK Investing - 7th Oct 21
Gold: Evergrande Investors' Savior - 7th Oct 21
Here's What Really Sets Interest Rates (Not Central Banks) - 7th Oct 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stocks Bear Market Rally Update, Dissent with Authority

Stock-Markets / Stocks Bear Market Apr 08, 2010 - 03:15 AM GMT

By: Joseph_Russo


Best Financial Markets Analysis ArticleOne of the most essential elements present at the very founding of America was that of well-reasoned and persistent dissent.

A healthy and aggressive dissent against proclamations of those in authority often results in clearer perspectives on matters of substantial import.

Things can get ugly when peaceful means in resolving such dissent go unheard.  Case in point was the violent and bloody revolution ground in dissent, which was the ultimate cost of freeing America.

Without inherent unwavering confidence to intensely question, prudently conclude, and decisively take action, the founders would have failed in their valiant effort to break free from those who bound them.

In our view, things are no different today than they were then. 

However, radically different today, is the extreme influence that various concentrations of monopoly-authorities have imposed upon local and global audiences.

Until a critical mass of reasoned dissent inevitably engulfs the masses of citizenry subjected to such concentrated voices of authority, we should expect such voices to continue laying claim to all that they so graciously provide for us.

For us, questioning the voice of concentrated authority in mainstream market analysis is no different from expressing dissent that is political in nature, specifically when it comes to those in possession of authoritative-monopoly on the dissemination of Elliott Wave Theory.

What do you call five-clear-waves up off the March ‘09 low?

In short, we would call this an extreme hyper-inflationary victory for helicopter Ben and a rather perplexing dilemma for deflationist Bob.

Many well-respected Elliott Wave authorities espoused that the decline from 2000-2002 was somehow five-waves down, and held to such determinism until the market reached fresh historic highs some four years later in 2006.

Many in the same contingent are now telling you why you should not view the move up off the March low as the five-wave upward structure that it clearly is. 

Just as the decline from 2000-2002 was clearly not a five-wave downward impulse, will these same authorities again hold  to the view that the clearly observable five-wave ascent from the March low is somehow something else other than what it clearly appears to be? 

Only time will tell, however one thing is certain.  Overtime, bull markets end, and bear market begin.  This process will generally repeat itself in one form or another for as long as markets exist. 

To claim authoritative ownership of foreseeing the precise timing or construct of either eventual inevitability is truly akin to the broken clock being right twice per day.

Though wildly entertaining, be advised that such deterministic pronouncements should by no means translate into long-term investing or short-term trading religions.

Despite insistence from various Elliott Wave authorities, the grey shaded area highlighting the bear market from 2000-2002 was clearly NOT a five-wave downward impulse. 

Upon the markets move to fresh historic highs in 2006, dissenters vindicated their corrective interpretation of the prior cycle's two-year decline.

How would Mr. Elliott label the five-waves up off the March '09 low?

For ardent Elliott Wave enthusiasts around the globe, we posit that our dissenting labeling of the Dow is supreme and far more objective than those emanating from the voices of concentrated authority.

Furthermore, we trust students devoted to the theory may find our dissenting interpretations better aligned with the tenets founded by Mr. Elliott himself.

So, what is the takeaway from all of this?  Quite simply, deal with the problem directly (take the bull by the horns) and arrive at your own conclusions just as we have.

Be they political leaders, professors, or market analysts, one should not reflexively assume that the collective voices of any concentrated monopoly-authorities, in any realm of influence, are automatically correct in their proclaimed assessments on matters of import.

If interested, one may view our entire dissenting line-up of products here.

By Joseph Russo

Chief Publisher and Technical Analyst
Elliott Wave Technology
Email Author

Copyright © 2010 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

© 2005-2019 - 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