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Prechter's Sweeping Market Statement: A 21-Page Tour de Force
The time is right
By Bob Stokes
Fri, 25 May 2012 17:45:00 ET
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The Russian novelist Fyodor Dostoevsky had been blind-folded and was standing in front of a firing squad.
 
At this literal last minute, word came that the Tsar would spare his life. In truth, his life was never in danger. Unknown to Dostoevsky, the entire ordeal had been a mock execution. Even so, the emotional relief must have been indescribable. There was little time to celebrate. His next stop was Siberia.
 
Did this range of extraordinary experiences bring depth to Dostoevsky's writing as he penned one classic novel after another, including Crime and Punishment?
 
I can't help but think so as I read that book. I recently checked it out from the library and after the first few pages, I was hooked.
 
Dostoevsky poured his experiences and observations into his fiction. Yet those elements can also contribute to non-fiction.
 
Consider Robert Prechter's new Elliott Wave Theorist. This double-issue is a sweeping statement about the timing of a historic financial reversal.
 
As you read it you'll see that extensive market experience at work in this tour de force. Here's an excerpt:
 
Since 1978, I have been showing the Dow’s Supercycle resistance line dating from 1937. After the stock mania of the late 1990s brought prices above this line, the drop in 2008 broke it...the rally of the past three years has brought the Dow back up to this line for the second time...The Dow gave this line a kiss goodbye last year but returned to the front porch this spring for another buss.
 
What does Prechter make of the Dow's most recent return to this long-term trendline?
 
Well, it takes him 21 pages and 25 charts to tell the full story.
 

These charts go back 2 months, 1 year, 3 years, 5 years, 12 years, 17 years, 25 years, 38 years and 80 years, covering the Dow, the S&P, the NASDAQ, and the CRB index of commodities.

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You'll get more insights, more useful charts and more timely analysis from EWI's Financial Forecast Service than any other financial publication.
 
Here's what you get with your risk-free 30 day trial:
 
1) Prechter's new, 21-page Elliott Wave Theorist

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Tags: Dow Jones Industrial Average (DJIA), Elliott Wave Theorist, Fibonacci, market forecasts, Robert Prechter, technical indicators, trendlines
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