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Message: Interesting EW observation

Interesting EW observation

posted on Jan 15, 2010 06:45PM

I noticed that Prechter & co. have made a small, yet unmistakable change to their future wave count. They acknowledged today that if silver rises above the prior high, it will invalidate their terminal wave count that began in October. This is about the 4th time they've called a probable top in the market since the March lows, so while they may be right this time, it could be interesting to see what could happen if silver exceeds its high. Their view is 'all one market', with stocks and gold/silver falling together, while McHugh is calling for stocks down, but gold/silver only correcting in the short term.

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