American Express is just about GAME OVER

Since the banks led us up to these Ponzi heights one can only believe that they will get crushed on the way back down as the credit deflation kills all their ill-begotten earnings.  Recall the plight of the banks back during the 2007-2009 crash was so severe that the government even had to outlaw shorting these "special people".  Free markets were thus destroyed by the heavy hand of banker-controlled government.  If you were a bank, and only if you were a bank, your share price could be artificially propped up "for the good of the people". 

Of course, a company can operate just fine with a share price of 50 cents so there was no economic reason to prop up the banks like that.  There was only corrupt cronyism.  There was only government propaganda designed to try to keep the Ponzi spinning.  Well let me tell you, the herd learned a hard lesson from 2007-2009.  Those boomers who got back in are not going to be complacent about selling on the first sign of a real breakdown.  They simply do not have enough life left to "ride it out".  So when they sell the government will be calling it "panic selling" but in truth it will be "survival of those who can learn a lesson".

So let's look at one of the Ponzi financial services companies like AMEX AKA American Express stock ticker AXP.  As the picture clearly states (with a little help from the Eliot Spencer character from the TV show, "Leverage"), banks are supposed to be slow growing, stodgy corporations.  That's how they were all throughout the history of the US.  Only today are bankers the richest nonworking people in the country and only today do their stock charts look more like those of dot bomb internet start up darlings.  Hear me now and believe me later: when banker and financial charts go exponential like this, it's not only a bubble, it's a bubble of historical significance whose popping is going to result in major, major changes here in the US and abroad.

Zooming in on just wave blue 5 that includes the ending diagonal, the count remains easy to follow and textbook Elliott.  AXP just recently touched the upper rail in a 5th wave up and the subwaves of the diagonal are a-b-c in structure.  I think AXP has peaked and it going to start its big collapse beginning tomorrow.  to be more exact, I think it peaked at $95.88 on June 9th at 15:42 Eastern time.

Time will tell!