Stock Market Crash Forecast in June 2008
Stock-Markets / Financial Crash Oct 14, 2008 - 05:04 AMBy: 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 20 th capitalism – embrace durable change
• Punish those responsible for treasonous stewardship of their oaths and mandates
• 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)
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By Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology
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Copyright © 2008 Elliott Wave Technology. All Rights Reserved.
Joseph Russo, presently the Publisher and Chief Market 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.
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