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Prechter: the trend is exausted

By JohnLast 3235 days ago Comments (1)

What is the real problem with today's market? Watch this excerpt from Robert Prechter's special,video issue of the August Elliott Wave Theorist (online now, 54 mins). Prechter shows you how the buildup of dollar-denominated debt has brought us to what he calls a critical market juncture.

I am not really sure about it and I do not follow him but it is a rumour right. I think the short video is enough to see his point.

I think that that statement would ridiculize him and all his interpretation of the Elliott Waves. According to Neely the market since the last 10 years has entered into a very complex sideways correction, in that way the Elliott wave theory is useless for the years to come. Until the first market crash the theory was great for timing the market but now...unpredictable X, Y, W etc.

Accordind to Prechter the Bear market has begun and we are in a countertrend rally by now. I do not have a subscription but this is the information that is leaked.

Another video is here.

Comments

  • JohnLast 3155 days ago

    I found another video from 14 September of Prechtor on another blog. I really doubt too much in the abilitity of the so called market gurus to make better predictions than anybody else. 

    Imagine that you can completely figure out a 4 trillions market a day consistently, comme on, you won't appear on TV.