The Long Crisis

Robert Prechter has been in the forecasting business a long time. His career got a big boost in 1987 when he was one of the few forecasters who warned that the stock market was set up for a big crash just before the scary crash of 1987. More recently in March 2009 he advised his subscribers to cover their short positions just before the massive rally of 2009 took off.

Now Prechter warns that the current “Worst is Over” optimism sets up a volatile third Elliot Wave surprise. Prechter states that “The Dow has just entered the lower end of its upside target range we cited back in April; the S&P is close behind. Restored optimism for a lengthy recovery at worst – a new bull market at best – is one of several signs of an important peak. All the same markets that recovered together have now set the stage to decline together.”

Robert Prechter and his team of first class forecasters at Elliot Wave International are also warning that the US and the world economies are facing something far more serious than a recession.

If you haven’t yet given Prechter’s deflation argument your full attention, you should know now that yesterday was the best time to do so. You can download for free his 60 page well written document as to why the US is already in the early stages of a long term deflationary period, (can you think depression?) by going to Deflation Survival Guide.

As with any forecaster who has been around for awhile Robert Prechter is not always right with the timing or content of his forecasts. However, there are few forecasters who can match his long term record. And he always provides valuable insights into what’s going on and what to expect in stock markets, bonds, and foreign exchange.

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