The (i) (ii) (iii) (iv) (v) Elliot Wave pattern is fairly well defined ever since 2009.
Something that was NOT the case into 2007!
That type of inconsistency undermines my faith in EW analysis, generally, as a causative tool. Beyond seeing the absolute high that the S&P is now at. Some Dow charting would call for a pull back, if chartism is to herald a clear market terrain too.
As a structural concern, I'm more concerned by the flattening of the yield curve, with implications for both credit concerns in cracks emerging in the continuation of overpriced assets, and also monetary concerns in that the short term interest rate climb will eventuate in longer term 10 year rates. A concern as the Fed. may no longer have ant ammunition to rectify the USA (World) banking, seeing that in this age the FED is the largest constituent bank of the world of normal banking activity.
A situation that ought never have been allowed to arise or occur.
