How bad could a technical sell wave be ?
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They’ve been saying that every 20thing minutes since 09.
But this time they have austerity on their side. Google sectoral balances, find a graph, and ponder the impact on the private sector of a country with a current account deficit trying to balance its budget. A country with a CAD and a balanced budget must, by simple accounting reality, have negative private sector savings. Economic glory will not result, ever. Europe changes its monetary system or faces a firing squad.
Then the Elliott guys can claim to be prophets and sell more subscriptions.
The idea of the entire market crashing due to some technical indicator is silly. On certain time frames, yes technical patterns can largely dictate what happens, but no one is going to make money off this except for, like Lloyd said, the guys selling subscriptions.
This reads like the guys who claimed the summer breakdown was due to a head and shoulders topping formation. Bitch, Please.
I have invented a new stock market indicator predictor.
To summarize “Stocks go up for awhile, and then down for awhile, and then back up”
In the next 100 years there will be both smaller booms and busts and bigger ones, there will be a zig zag pattern as well as trends that revert. +/- 1000 years