Looking at the Dow chart for the last few months, it looks like there is a full scale recovery in effect. The market seems to be climbing back toward 10k. Or is this really just a bear market rally that is just about to reach its top?
Robert Precter, the technical guru and founder of Elliot Wave International, author of Elliot Wave Principle: 6th Expanded Edition, Key to Stock Market Profits
, At the Crest of the Tidal Wave: A Forecast for the Great Bear Market
, and Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression (Hardcover w/ Updates for 2009) includes Bonus CD-ROM
says it's a bear market rally, and the top is in.Under the Elliot Wave Theory and socionomic theories Precter uses, the market is driven by predictable social moods, and all the signs are present for for a major deflationary depression. Check out his stuff, he's got a pretty good track record as a forecaster.
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