Aside from sounding consistently self-conscious Martin Armstrong seems to find a need to wrap basic and well known (or what should be well known) concepts in cloaks of mystery that only he – and his computer – can divine. I think this is a really smart man, but with an out sized ego.
“The Golden Rule of the 3 Attempts (TM)” * is another way of saying that the more times a market bashes away at resistance, the weaker that resistance tends to become. It’s basic TA, can be applied to short or long time frames and it’s widely known and respected. You have seen me write things like that many times over the years. In reverse, the more times support is tested, the weaker it tends to become. TA 101, or at least it should be.
“It becomes rather amusing to what the so called professions end up constantly wrong so they start bruding and proclaiming this feels like 2000 or 2007 before the crash.”
Typos aside, are that many people really stealing his ideas that he needs to be so constantly hyper aware all the time? I mean, I know about the importance of gold ratios from long ago reading Bob Hoye. I notice a lot of my own themes and charting styles showing up out there after nearly 12 years of doing this publicly.
“No doubt other analysts will quickly plagiarize this and call it their own and you will quickly see who is a real analyst and who is fake.”
It’s as simple as this; the market is still in a bear trend (the Dow, as cited by Armstrong and typically not a leader, is a rare exception) using the same ‘lower lows and lower highs’ criteria he cites). It will either remain in that bear trend or it will negate it and turn up. All the talk about the Fed and interest rates and bogus, plagiarizing analysts he notes is noise.
FWIW, if the market continues down I expect the 1500’s on the S&P to be a potentially major buying opportunity. That’s how it looks now, with no need to make further grandiose statements. Grand statements can make you look silly ($600 gold? $700 gold? $800 gold?) when you are inevitably compelled to revise them. Worse than that, they can make a lot of people who think you have some secret sauce behind your grand statements poorer for having listened and acted upon them.
* At the old, departed Biiwii site (now born again) I used to have a funny (to me, anyway) shtick of putting a ‘TM’ after my buzz phrases like Inflation onDemand (TM) or Armageddon ’08 (TM). These were jokes to make financial writing more fun. To me, it sounds like Marty is actually seriously coining and claiming ownership of the ‘3 attempts’ concept.
Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH.