Writer, researcher and seasoned socionomist led a walking tour of America’s social mood epicenter
Peter Kendall is co-editor of the monthly Elliott Wave Financial Forecast, where he provides analysis of the US markets and comments on cultural trends. He’s researched a variety of fascinating topics related to social mood and popular culture, including the popularity of basketball and star players, fashion trends, skirt lengths and the acceptance of transgenderism.
Peter led a one-time-only walking tour of Wall Street and Lower Manhattan on September 8 that placed the financial and commercial capital of the world within the context of 200 years of stock market history.
Before the tour, Peter sat down with Socionomics Institute staff to discuss the history of the Charging Bull sculpture and the New York Stock Exchange — two stops along Peter’s walk — and how the current social mood peak is etched into the stonework of New York City.
Socionomics Institute: In our previous interview, you talk about the skyscraper indicator and architectural buildings. What other sites will you visit on the tour?
Kendall: As I said, it’s mainly focused on the buildings, but there are a lot of detours that we will take. As an example — the charging bull. It’s really become more iconic than I realized. Some tour groups say it is the most visited attraction in New York City. You will see big crowds around it, and you will see that they are selling replicas of it. They talk about it as a symbol of optimism. It actually dates back to the crash of 1987. The person who sculpted it decided that he wanted to create something as a response to the crash. He placed it in front of the New York Stock Exchange, and initially, it was rejected by the city. It became a permanent fixture on the street in 1990, at another peak. It’s been fenced off in bear phases, and people flock to it in bull markets.
Socionomics Institute: What else are you excited to check out?
Kendall: One of the stops on our tour is the New York Stock Exchange itself. It has quite a history, and it is definitely socionomically-inspired. It has waxed and waned over the course of its existence with the stock market. It was formed in 1792 as a response to a panic. Here again, we see that what takes place in a bear market ultimately ends up affecting each successive bull market.
Socionomics Institute: Lunch at Delmonico’s is included in the price of the tour. What is so significant about that restaurant?
Kendall: Delmonico’s was started in the 1830s as a fancy food shop — much like what we see today in New York, only there are many more now. At the time, it was the only one. They had a great fire in 1835 at the top, and then they had a real estate boom that continued after the top in stocks. It’s sort of like the era we are in now. Delmonico’s opened a fancy new sit-down restaurant, and it had some innovative things, like a menu and tables that you could sit at and have all to yourself. Prior to that, there were no restaurants in the United States, so it’s very historic.
Socionomics Institute: Delmonico’s is a steakhouse, correct?
Kendall: It’s a bull market — You’ve gotta have steak!
Socionomics Institute: In our previous interview, you mentioned that you’ve been putting the tour off. Why is now the right time to launch the event?
Kendall: I think now is the right time because of where we are in the Wave Principle. We are at the peak of a Grand Supercycle bull market, and that is actually etched into the stone, the streets, and side-streets of New York. This is the time to go, because you can see the whole picture.
Socionomics Institute: What architectural styles and development projects do you anticipate New York City will build in the near future?
Kendall: We will see it — It’s happening right now. It’s basically a residential boom. When we do the tour, we will find out the significance of that. It will lead to certain conclusions that we will draw together as we finish. We will sum it up.