Tip of the iceberg really as there are many other mood indicators as well that work with any or all wave pattern structures, but hopefully this will add fuel to the fire already started.
Fib
I don't think there's much debate against us still being in a bull market, but the debate rest mostly in wave 3 or wave 5.
if we're in wave 5, technically thats still a bull market, but we should see euphoria in social mood maybe starting to get extreme.
I know we've mentioned britney's undies (or lack of) before, and just the other day, I read about the russian business guy holding orgies with prostitutes being arrested.
Now whats more interesting is not the fact these things happened, but that the reaction to them seemed negative (at least to me). People have gone on air saying britney was bad.. this russian guy was arrested and being prosecuted..
We got so many comic book movies coming out.. I think this summer there's like 4-5 based on them coming out at once.
And at the same time we're seeing signs of social disorder. There's problems in venezuela, in mexico, even a revolution in thailand.. plus as mentioned before, the growing dissatisfaction with the war and immigration.
So it would appear to me that socially, maybe there are signs of things reaching an extreme and signs of turning at the same time.
Another example would be the negative reaction to the bonuses made by wall street firms. They've made tons the last few years, but this particular year, there appears to be quite a bit of negative attention to it.. which is spilling also into CEO pay.
The democrats are talking about corruption reform.. plus the fact we got democrats in the house after so many years of republican rule. There's growing dissatisfaction.
Now to be a wave 3, we would expect this to be the longest of the 3 waves, maybe in time as well as price. But if it is a wave 3, then wave 5 is yet to come, and that may mean another year of bull market. Certainly doable, but have we hit a euphoria peak now and its starting to turn?