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An Elliott Wave Analysis: Prechter's Bearish Outlook

Posted Mar 1st 2010 1:10PM by Steven Halpern (RSS feed)
Filed under: International Markets, Newsletters, DJIA, Housing, Recession

"The collapse in real values for stocks as well as the credit implosion, economic contraction, terrorism and war of the past decade are consistent with our Elliott wave cycle case that in 1999-2000 the direction of fiscal mood changes from positive to negative at a Grand Supercycle degree," says technical cycle analyst Robert Prechter.

In his The Elliott Wave Theorist, he suggests, "But this is not the end of the story. The fact that investors are still giddy -- which is an apt word for the current sentiment indicators -- is consistent with our Elliott wave case that the bear market has barely begun."

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Elliott Wave: Prechter prepares for next bear move

Posted Aug 25th 2009 2:00PM by Steven Halpern (RSS feed)
Filed under: International Markets, Newsletters, S and P 500, DJIA, Recession

"The stock market has now fulfilled our forecast made back in February for a rise to 9,000-10,000," says Robert Prechter. In The Elliott Wave Theorist, he now sees increasing risk.

"The rally in the S&P since March has been one of the faster ever, rising 50% in five months, and rapidly carrying the S&P to the lower end of our general target zone of 1000-1100.

"At the same time, optimism has finally reached 'Primary degree' levels. The daily sentiment index recently reported 88% bulls among S&P traders, a reading equal to that on October 9, 2007, the top day of the 'Cycle B wave' when the Dow made its all-time closing high of 14,164. Higher readings are possible, but we are no longer compelled to wait.

Continue reading Elliott Wave: Prechter prepares for next bear move