Robert Prechter is considered a shrill by some, a prophet by others. I tend to follow him with passing interest. That is, not too closely, though I find our expecations for the future aligning over time. Arguably we are looking at the same thing, but through different lenses. Check this coverage of him out today.

http://www.marketwatch.com/story/why-you-should-care-that-robert-prechter-is-warning-of-a-sharp-collapse-in-stocks-2015-06-08?siteid=yhoof2

I'm not so much a technical analyst, but what he says here is quite similar to what I've been saying for a long time. What's that?

Over recent years, as the Dow has been rising, volumes has been declining. Lately, the Dow has gone somewhat flat, suggesting a change in direction may be near. With more and more people existing this market, as demonstrated by the following chart, who's going to help provide support when prices fall? It ain't look'n good to me by my analysis, nor to Prechter by his.

http://finance.yahoo.com/echarts?s=^DJI+Interactive#{%22comparisons%22:%22TMBXF.PK%22,%22comparisonsColors%22:%22#cc0000%22,%22comparisonsWidths%22:%221%22,%22comparisonsGhosting%22:%220%22,%22range%22:%225y%22,%22allowChartStacking%22:true}

Relevance? A falling/failing Dow, I believe, and even with rising interest rates, should be good for miners.

VP