While many people spend time yearning for the financial markets
to turn back up, a rare few have looked back in time to compare
historical markets with the current situation — and then
delivered a clear-eyed view of the future informed by knowledge
of the past. One who has is Robert Prechter. When he thinks
about markets and wave patterns, he goes back to the 1700s, the
1800s, and — most tellingly for our time now — the early 1900s
when the Great Depression weighed down the United States in the
late 1920s and early 1930s. With this large wash of history in
mind, he is able to explain why he thinks we have a long way
to go to get to the bottom of this bear market.
This
article, The Bear Market and Depression: How Close to the Bottom?,was syndicated by Elliott Wave International. EWI
is the world’s largest market forecasting firm. Its staff
of full-time analysts lead by Chartered Market Technician Robert
Prechter provides 24-hour-a-day market analysis to institutional
and private investors around the world.
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