“These are classic signs of a short- to intermediate-term peak,” he said during an interview today with Bloomberg Radio. “Most bear-market rallies occur in two steps. The first step is probably over. We’ll probably have a reaction for awhile and then, maybe later in the summer, a second leg.”
Is it tradeable?
h/t Teresa Lo
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You have to ask... Is it sentiment....or data...
ReplyDeleteWell, Prechter uses Elliot waves (is that *real* data?) and he considers the Supercycle a bear and we are in a counter-trend rally. I'm not sure of his exact analysis, just quoting the story.
ReplyDeleteI know he views the bear Cycle as starting in 2000 with the current uptrend as a Minuette or something like that. I'm not sure where he's drawing his 1-2-3-4-5's.