From EWI's description of this free report:
Prechter saw something on the horizon that the shortsighted mainstream market watchers did not, which brings me to the untold portion of this story …
In Prechter's eyes, the bear market is far from over, and what he expects to happen after the current rally ends is significantly important to how you position your portfolio now.
Prechter's firm, Elliott Wave International, is now offering for a limited time The Most Important Investment Report You'll Read in 2010. Inside, Prechter reveals his big-picture outlook for U.S. stocks and the U.S. economy. The eye-opening 13-page report, originally published for paying subscribers to his Elliott Wave Theorist, examines the government's unprecedented involvement in the financial markets and private enterprise. It reveals what's already taken place in candid detail then focuses you on what the government's measures will actually do for the U.S. financial markets and economy.
What's the big deal? Why now? Hasn't Prechter been touting this scenario for the past year? From Friday's night EWI Short Term Update:
"Primary wave 3 (circle) down has started.....The implications of a complete Primary-degree bear market rally are major. It means that Primary wave 3 (circle) is starting, which should be the strongest down portion of the bear market to date, stronger than the decline that unfolded throughout 2008 and into the first few months of 2009."
Nothing in trading the financial markets is a certainty. The entire trading paradigm is steeped in probabilities. We try to control uncertainty by identifying and following trends. Reading EWI's analysis is part of the identification process. Their arguments are not facts, but they do lend some perspective to what very well may be happening in the days immediately ahead. A major change-in-trend from UP to DOWN in the financial markets. My Trend Following Models will pick them up soon enough. The SPX Hourly Model is already on a SELL. The Daily Model is next and it on the verge of its switch from LONG to SHORT. My Models don't deal with implications from these changes, but Prechter's excellent analysis does.
Now, back the Wings game, then the Cardinals. Let's not lose perspective on what's important.