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October 10, 2008

Hope for The Best
by Joseph Russo

Bottoms' Up?
Top down? It really does not matter now that the fat lady is singing at the top of her lungs. The ultimate effect however is yet unknown. One thing is certain; the era of corrupt 20th century capitalism is OVER.

We hope the outcome of this clearly telegraphed inevitable and avoidable crisis will expediently produce radical change that will bring about prudent and durable solutions for future generations.

The Elliott wave structures we alluded to in the article-link and chart below have adopted a clear path toward the most bearish of outcomes.

From Big Bang or Bust June 9, 2008

From an Elliott Wave perspective, one can argue with good cause, that the Dow Jones Industrials are en-route toward retesting their October 2002 lows... Case closed...

CHART FROM JUNE 6, 2008

How low can we go?
Given the present set of conditions, the chart below represents the worst-case scenario for a crash of standard proportion pummeling the Dow toward 3000 by years-end. Such a decline would equate to a near 80% decline over the course of 12-months, which is historically quite common for typical resolutions of this type. That said, all we can add is to hope for the best and prepare for the worst.

Some Inevitable Cures

Accept HUGE losses - establish a solid floor in market valuations across all sectors of economy
Re-think the practicality and necessities required of 20th capitalism - embrace durable change
Punish those responsible for treasonous stewardship of their oaths and mandate
Tear down and rebuild the corrupt and fraudulent monetary/political systems of banking and credit

A snapshot of Long-Term Secular Trends
Below, we take a fresh long-term secular look at four of the most essential sectors in the financial sphere. In general-order of importance, they are sovereign nations':

Currency and/or supply of money
Long-Term Interest Rate, or cost of currency
Commodities (In this case, represented by Gold)
And finally Broad Based Equities or Stock Indices (represented below by the S&P 500)

When it comes to strategically trading broad market indices, there is simply no match for Elliott Wave Technology's Near Term Outlook. We will gladly challenge any short-term advisory service or software generated algorithms that claim to outperform our consistent and impartial mapping of the price action in the Dow, S&P, or NDX.

Over the past three years, we have perfected the art of dispatching tactical trade set-ups and market forecasting to a consistent, impartial, and immensely profitable endeavor for those who take the time to embrace it.

The express focus of Elliott Wave Technology's charting and forecasting service is to help traders anticipate price direction and amplitude of broad market indices over the short, intermediate, and long-term.

We deliver this unique blend of proprietary charting protocol daily, with the express intent to convey timely and profitable information. Our daily reports impart strategy-specific guidance, which strives to forecast, monitor, and calibrate market impact relative to a multitude of signals that are in direct alignment with eight distinct trading strategies set forth in the members NTO essentials file.

Regardless of one's level of experience, users must allow sufficient time to become acquainted with the authors charting protocol, strategies, and tactical narratives prior to entering positions or developing discretionary trading strategies.

If you trade in today's increasingly uncertain and volatile markets, you need a reliable and consistent edge you can count on. If you want the very best, there is no better short-term advisory than the Near Term Outlook.

Trade Better / Invest Smarter...

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo, presently the chief editor and analyst for Elliott Wave Technology, has been studying Elliott Wave Theory, and the Technical Analysis of Financial Markets since 1991 and currently maintains active member status in the "Market Technicians Association." Joe continues to expand his body of knowledge through the MTA's accredited CMT program. Having passed the Level I examination in November of 2004, Joe is now preparing to begin study for his Level II exams. Upon successful completion of an exhaustive level III examination he will have earned the industries highly regarded designation of Chartered Market Technician.