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Prechter’s Elliott Wave Theory Suggests Dow Could Tumble to 8,000
U.S. stocks could sink by more than 20 percent if the neckline of a head-and-shoulders pattern on the Dow Jones Industrial Average is breached, according to Robert Prechter’s Elliott Wave International Inc. Words: 524
So reports Sarah Jones (www.bloomberg.net). Below Lorimer Wilson, editor of www.munKNEE.com, presents further reformatted and edited [..] excerpts from her article for the sake of clarity and brevity to ensure a fast and easy read. (Please note that this paragraph must be included in any article reposting to avoid copyright infringement.) Jones’ report continues as follows:
“The coming months hold the potential to be the most exciting of the year so far,” a team including Steve Hochberg and Peter Kendall wrote in their latest Global Market Perspective report. “Once the neckline is breached, the measured move for the selloff targets the area surrounding… (To continue reading the article please go here.)
*http://www.businessweek.com/news/2010-08-18/dow-average-to-tumble-to-8-000-elliott-wave-says.html (Jones can be contacted at sjones35@bloomberg.net)
Editor’s Note:
- The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.
- Permission to reprint in whole or in part is permitted provided full credit is given
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Posted by Lorimer Wilson on Sep 3 2010, With 0 Reads, Filed under Living, Personal Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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What else is new. the Federal Government and America is BANKRUPT. The stupid fed and the past Bush Administration also gave the Bankers and the Banks $787 Billion Dollars of TAX PAYERS MONEY.they new the banks would fail and they did fail. this was a HIST OF AMERICAS WEALTH by CORRUPT POLITICIANS AND CORPORATIONS. WALL STREET is also a sham, and corrupt. these so called elite in government and wall street live to scam americans out of everthing they have. so far they have done a very good job of looting america out of every thing she has.