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09/08/2012 – The 3-Year Rally: It Doesn’t Have to End This Way – Or Does It?
August 9, 2012 11:53 amVideo
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Is it wise to forecast financial markets based on what central bankers say?
Look no further than a chart of long-term stock market prices
for the answer: No major trend change ever followed any
of those announcements.
Even so, the financial media spends obscene amounts of time analyzing every utterance of central bankers, especially during the past few years of global economic distress.
Elliott Wave International takes a different approach:
That issue of the Short Term Update shows charts of
the Dow’s and S&P 500’s wave structure, and it provides insightful
commentary about a high-confidence near-term forecast.
The quote above mentions “a whole host of inter-market divergences.”
The chart below from the Aug. 1 Short Term Update reveals
one of them:
The publication adds:
Please note that this analysis makes no mention of comments from Federal Reserve Chairman Ben Bernanke or European Central Bank President Mario Draghi.
The U.S. stock market rally that began in March 2009 is now more than three years old. Yet many experts forecast that the trend will continue higher.
You deserve an independent alternative to the conventional wisdom. See what we see in the Elliott wave pattern to learn where prices are headed from here.
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