Forecast from Elliott Wave International's president Robert Prechter in his April 2009 Elliott Wave Theorist (excerpt):
"What to Expect in Wave 2 -- Wave 2 could carry the Dow as high as 10,000... Wave 2, regardless of its extent, should regenerate substantial feelings of optimism. At its peak...the government will be taking credit for successfully bailing out the economy, the Fed will appear to have saved the banking system, and investors will be convinced that the bear market is behind us. Be prepared for this environment; it will be hard for most investors to resist. The perverse result of wave 2 will be to get people even more heavily invested than they already are, just before wave 3 starts."
We're not there yet...
So, could this market continue to climb higher on nothing but more hot air?
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