Robert Prechter of Elliott Wave fame has a piece in this month’s issue of The Socionomist discussing the recently completed TV show ‘Breaking Bad’ and what it means in the context of social mood and markets.
Prechter points out a number of sources calling ‘Breaking Bad’ the best TV show in history. Perhaps its not a coincidence the show ended its amazing run, as did ‘Dexter’ and cult hit ‘Burn Notice’ as the stock market was making all-time highs. Prechter writes,
“Talking Bad” host Chris Hardwick said to the series’ creator Vince Gilligan, “Thank you…for having a show that never dipped and ended on top.” One could almost say the same thing about the stock market of the past 41⁄2 years.
The last few years have been amazing for television and Prechter points out more than a dozen great shows and even leaves off ‘Deadwood’ and ‘The Sopranos.’
His point is current TV is similar to the great movies made in the late 1930′s (Wizard of Oz, Gone with the Wind) and rock music in the late 1960′s (Where do we begin?). Without going off in the Elliott Wave weeds of B-waves and such, these two periods signaled intermediate market tops in downward cycles.
Prechter’s close is especially interesting,
Apparently the mix of a return to peak positive mood during the larger transition to more negative mood produces an ideal emotional state to motivate people toward peak artistic creativity.
Television has peaked and so has the stock market?