This morning I opened my email and found a message from Robert Prechter, the "Elliott Wave Theorist", that simply stated: "I think it’s over."
While I've sent many, many emails to Bob, I don't think he's EVER sent one to me that wasn't a response.
Note that his message was received at 9:35am EST, and 8 minutes later the S&P500 peaked above the 1300 mark and then sharply reversed course:
If this is the turning point in mass mood that Prechter and I believe it is according to the Elliott Wave Principle, then what may follow is what I've dubbed the "Apocalypse Wave" and a 90%+ plunge in stock prices:
This week has been a profound historical parallel to what occurred in mid-July of 1990 just before Iraq's invasion of Kuwait that year. On July 16th and 17th of that year the DJIA closed at 2999.75 two days in a row, i.e., just below the psychologically important 3000 mark. The DJIA never closed at or above 3000 that year and immediately with the DJIA reaching this high point Saddam Hussein made a speech threatening Kuwait after which Iraq invaded Kuwait precipitating an oil-shock and 25% reversal in stock prices as the world economy was shoved into recession:
A comparable pattern occurred in October of 1973 when the DJIA climbed to the 1000 mark just as the Yom Kippur Arab-Israeli War occurred and the subsequent OPEC oil embargo that spiked oil prices, sent the world economy into a severe recession and triggered a 40% drop in stock prices by the following year:
As overviewed in my thesis and a recent blog, I've discovered that this pattern of historical "shocks" occurring with reversals from psychologically important thousand marks in major stock indices like the DJIA is common around the world. I believe we are seeing a replay of this market phenomenon at the current historical juncture.
All week the DJIA was flirting with the psychologically important 12000 mark with the index reaching a closing high of 11990 yesterday:
Meanwhile, political upheavals started to unfold in the Middle East and Africa leading to the downfall of the governments in Tunisia, Lebanon and, as of today, Egypt. Instability is also afflicting Yemen and Jordan. While this had seemingly gone unnoticed by world markets this week, with violent protests in Egypt today the potential for trouble hit Wall Street's radar and stock prices sank while oil prices surged.
What is this leading up to?
Given my life story, I can't help but point out that we are approaching the 20 year anniversary of my "apocalyptic vision" that began with seeing a special report of a chemical SCUD missile attack on Israel. At the time I was regularly corresponding with Robert Prechter, and I described what I had seen in the postscript of a letter I wrote to him on February 11th, 1991:
P.S. Please don't mark me off as too insane for telling you about this, but probably the strangest thing in my life happened the other night. Something I'm still at a loss to explain. I was watching T.V. by myself around 11 p.m. on Wednesday (2/6/91), just flipping through the stations, when I stopped on CNBC. The next thing I knew, Tom Brokaw was on the air saying something about a SCUD chemical attack on Israel. NBC's Haifa correspondent was on the air and Brokaw asked him about the situation. The correspondent said that a SCUD attack was underway and that chemical agents were involved. Brokaw then said something to the tune of, "well you better put your gas mask on then." In the midst of all this I was actually yelling out the door to my dormitory floor that a chemical attack on Israel was underway. I flipped the station to the normal NBC channel and the special report was still on. It then went off and regular programming continued, I immediately got up and told friends in my dorm that Israel had just been hit with chemical bombs. The next two hours I spent flipping through the stations trying to find more news. The next day I spent trying to explain what I had seen to both myself and my friends. The report never existed.
(Note: The above special report is similar to what I saw, but it was not the same one.
No special report of a SCUD missile attack on Israel aired the evening I saw it.)
The day after mailing this letter to Prechter, I had another, far more disturbing experience.
I was with a friend who had just become interested in Nostradamus and prophecies that might connected with the Gulf War underway at the time. After showing him some books I had on Nostradamus, I began reading him the following prophecy from the eighth chapter of the Bible's Book of Revelation:
When the Lamb opened the seventh seal, (1) there was silence in heaven for about half an hour. Then I saw the seven angels who stand before God, and seven trumpets were given to them. And another angel came and stood at the altar with a golden censer; and he was given much incense to mingle with the prayers of all the saints upon the golden altar before the throne; and the smoke of the incense rose with the prayers of the saints from the hand of the angel before God. Then the angel took the censer and filled it with fire from the altar and threw it on the earth; and (2) there were peals of thunder, loud noises, flashes of lightening, and an earthquake.
Now the seven angels who had the seven trumpets made ready to blow them.
The first angel blew his trumpet, and (3) there followed hail and fire, mixed with blood, which fell on the earth; and a third of the earth was burnt up, and a third of the trees were burnt up, and all green grass was burnt up.
The second angel blew his trumpet, and (4) something like a great mountain, burning with fire, was thrown into the sea; and a third of the sea became blood, a third of the living creatures in the sea died, and a third of the ships destroyed.
The third angel blew his trumpet, and (5) a great star fell from heaven, blazing like a torch, and it fell on a third of the rivers and on the fountains of water. The name of the star is Wormwood. A third of the waters became wormwood, and many men died of the water, because it was made bitter.
The fourth angel blew his trumpet, and (6) a third of the sun was struck, and a third of the moon, and a third of the stars, so that a third of their light was darkened; a third of the day was kept from shining, and likewise a third of the night.
Then I looked, and I heard an eagle crying with a loud voice, as it flew in midheaven, "Woe, woe, woe to those who dwell on the earth, at the blasts of the other trumpets which the three angels are about to blow!" [Revelation 8]
Up to that time, I had already come to believe that this prophecy is a depiction of a future nuclear war. Even though it was written some 2000 years ago, it accurately describes each major phase of a global nuclear holocaust:
1. The half hour of "silence in heaven" during which ICBM's would traverse their orbits before striking targets after being launched.
2. The thunderous reports, bright flashes, and earthquake associated with nuclear detonations.
3. The nuclear blasts of "hail and fire, mixed with blood" followed by raging fires that would consume much of the earth.
4. The nuclear explosions, "like a great mountain, burning with fire", all over the world's seas as ports, ships, and submarines are attacked.
5. The lethal contamination of water supplies by radioactive fallout ("Wormwood") for weeks after a nuclear war. (Note that the word wormwood is capitalized in the prophecy, suggesting it refers to something specific.)
6. The blanketing of the sky by vast dust clouds after a nuclear war such that sunlight, moonlight, and starlight is obscured thereby causing a "nuclear winter".
Over the years my conviction had grown that this prophecy predicts a future nuclear war. First off, the 1986 Chernobyl disaster in the Ukraine helped reveal the truth behind the prophecy. This is because, as I later found out, the Ukrainian word for the bitter herb "wormwood", which poisons water in the seventh seal prophecy above, is "Chernobyl".
Upon reading this prophecy to my friend, I received supernatural validation of its meaning. Just as I began reading it, my friend and I heard an air-raid siren followed by the bellowed percussion of a nuclear explosion. The authenticity of the experience led my friend and I to rush to the sub-basement of a nearby library. From there, I contacted the fire department to see if any sirens had been sounded and/or if there had been any sort of explosion; however, nothing of the sort occurred.
So here we are some 20 years after my supernatural vision related to the prophetic Apocalypse and, just as the DJIA reverses from the 12000 mark, Robert Prechter sends me a note that he 'thinks it's all over'. The next thing you know there's a popular revolt underway in Egypt just after Hezbollah took over Lebanon and world stock markets begin to tank.
WHO is Authoring HIStory? Only the author of a story can know future chapters before they unfold, although some characters might receive a foreshadow.
Does "science" seriously believe the laws of physics made the laws of physics rather than our Lawmaker?
Such haughtiness is doomed to destruction IMHO: