The question was asked – “So, how Low do we go?”
Robert Prechter, president of Elliott Wave International answered the question in an interview done by Aaron Task of TechTicker on Yahoo Finance…
“We should be in for [another] week or two of pretty serious selling,” Prechter says. “They’ll be bounces along the way…but I think this should last a long time. We should be on schedule for a very, very long bear market period.”
In the near-term, the veteran market watcher predicts a “dramatic increase in volatility,” beyond what’s already occurred. The CBOE Volatility Index (VIX) rose another 30% today and is now up about 180% from its late April lows. Read more here http://finance.yahoo.com
Watch the video of the full interview here…
The April-May EWI Theorist has a series entitled “Deadly Bearish Big Picture” Click here to download the 10-page part one for FREE now.
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Bear Market – Google News
