Legendary technician sees more upside

Robert Prechter, reknowned Elliot wave theorist and stock market technical analyst, sees another leg up during the current bear market rally.

“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