Update - Monday 10/05/15 4:00 PM EDT
US stocks extend Friday's rally with another big advance. The Dow Jones Industrial Average gained 304 points (18%) and the NASDAQ surged 73 points (1.5%). Is this the real deal or a classic "dead cat bounce?" Stay tuned!
If there's anything that all stock market analysts agree upon, it's that "markets don't move in straight lines" (at least not for very long). Look at any chart of any stock, any commodity, anything that is traded on an open market and you just don't see straight lines.
So if markets don't move in straight lines, how do they move? Again, look at any chart and it's obvious: markets move in zigs and zags. A more technical description of zigs and zags is waves. And there is no better way to analyze and interpret chart waves than with Elliott Wave analysis.
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the largest independent financial analysis and market forecasting firm in the world. EWI's analysts cover every major market (stocks, currencies, bonds, energy, metals, commodities) worldwide, 24 hours a day.
The stock market waves have been warning of a market meltdown for quite some time. Has that moment finally arrived?
As Bob Prechter warns, and as the market action during the 2008-2009 financial crisis proved,
"Bear markets move fast and are intensely emotional;
We urge you to stay on top of the latest market action with commentary and reports from our friends at Elliott Wave International.
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