Six months ago, the mainstream financial world was lock-step in the March of Dooms as the Dow Jones Industrial Average plumbed the depths of a 12-year low. In their words:
“Dow 5,000? A Bearish Possibility.” (Wall Street Journal)
“The bear market is tightening its grip. No one is taking a back-seat approach. Everyone is just selling. We’re collapsing in on ourselves.” (New York Times)
“I don’t want to sound like the grim reaper, but it’s possible that one of the [major] averages could come down by… another 50% drop from here. This is a slow-drip, slow-death decline.” (LA Times)
“It’s going to continue its easiest path, and that path it sees is down. That’s where we’re stuck right now and who’s going to get out in front of it?“ (AP)
Once again, EWI analysts are virtually alone in their deflationary forecasts. The October 2009 Elliott Wave Financial Forecast demonstrates why the mainstream conventional wisdom – just as it did at the top in October 2007 and the bottom in March 2009 – will again miss a major reversal on the horizon. DETAILS>>
