"The Story of the Year"
by Steven Hochberg and Peter Kendall
Updated: December 31, 2018
Think back to late summer. Stocks are rising; FAANGs are leading the pack. Earnings are reassuring. The unemployment is low; the economy is strong. Why worry?
Around that time, our August Elliott Wave Financial Forecast wrote: "Many skyrockets become air pockets when there is a big change afoot in the broader market." It was referring to tech stocks, specifically.
Today, with stocks like FB and NFLX down 40% or more, it's easy to look back and give a list of bearish factors "explaining" why the tech sector is in such a bad shape.
But, as reassuring as those explanations may sound, they don't tell you one thing: What's next?
This quick excerpt from our Elliott Wave Financial Forecast gives you the answer.
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