Very interesting IBB update

Check out the backlink and compare to below.  It's too early to crow yet of course but the model is tracking pretty closely.

There are two take-aways that I think everyone has to carefully consider right now:

1. The last chart predicted that there will be no real market fear until it shows up in the biotech darling sector.  After all, biotech shares kan't miss because of the aging population and everyone will need drugs.  I can't tell you how stupid that premise is based on two elements of simple logic:
1. Old people might have medical needs but money they don't have!  So it is foolish to expect our elderly to somehow propel biotech endlessly into the stratosphere based on all those imagined profits that HAVE to be waiting for wonder drugs and other biotech therapies.  Sure, the elderly will take it if it is low cost but none of this biotech development is in any way low cost.  Our government sees to that personally.
2.  Obamacare is not going to pay for all these fancy treatments!  Obamacare is a corrupt, useless scam which will REDUCE the overall amount of money available to be spent on healthcare by WASTING it on shit like useless, pointless bureaucracy ridden web sites that cost two billion dollars so far.  Obama you fucking piece of SHIT!  A web site that even costs a million dollars should be massive overkill for what this crap is supposed to accomplish.  OK, call it $20 million if you buy all the servers and build a building to put them in instead of contracting it out to a commercial 3rd party as should be done.  But 100 million? 500 million?  A billion?  TWO billion?  WHERE IS ALL THIS MONEY GOING OBAMA YOU FUCKING THIEF!!!???   Anyone who thinks 2 billion was actually spent on any website is a complete moron.  The money was obviously diverted into black projects that nobody has to account for.  This is just the way the con men roll.  But don't think for one second that this money was actually spent on HTML code and servers!  Bottom line: Obamacare is far more likely to implement death panels than to provide fancy biotech treatment to anyone but those in the special club that you and I are not part of.  IBB is a mania ETF.
2.  That last post was intended to be yet another W3 test and yet again my proprietary theory panned out, at least so far.  But from the shape of the chart, from the fact that the 5th wave was the same size as wave 1 (which is where I got that 5th wave prediction from in the first place), I like my odds.   Now, there is nothing to say that this is not a temporary thing as I have seen stuff go in and out of vogue before.  During the last rally and last crash, the head and shoulders and inverted head and shoulders were seen almost every day.  Today they are rare.  So maybe W3 and WC are just temporary or a smart and observant guy like Ralph Nelson Elliott would have picked up on it.  Or maybe, just maybe, it's been there all along and I'm the actual discoverer of something as important as the 4th wave horizontal triangle.  The jury is still out but expect WC and W3 to be regular annotations on my charts.  BTW, if I see cases where it doesn't hold I will try to point those out too. Ego means nothing beyond a little geek fun.  Being able to read a chart to the point of profit is all that matters in this game.