"RN Elliott developed his theories studying charts when the US was on a gold standard and couldn't create money at will. Also, central banks were not working in collusion with each other (and with GS, JPM, Citi) as they are now.
I think the EWT tool has dulled and is no longer effective. Sure, they'll be some isolated "twice-a-day broken clock" accurate calls, but his record is not impressive, otherwise why would he and his 33-year employees still need to work."
At the extremes, markets are driven by two key factors: GREED, and FEAR. Fundamentally, that's all Elliot Wave Theory (EWT) is saying.
But as for collapse, that inevitability is strictly compliments of the dumbfucks who ignored 2008 and who now believe that printing money is the secret to effortless wealth:
The Dow logarithmic (i.e. proportional with respect to percentage gain):
The secret to effortless wealth: Printing money to inflate stocks, while the economy is shipped to China, a strategy reserved strictly for the dumbest fucking society in human history:
Dow with Fed balance sheet:
But per the Idiocratic Oath: "No one can predict the inevitable"
