I am not a subscriber, but I was sent this today by NEoWave.
February 22, 2011 – Today, the U.S. stock market experienced a major selloff, falling more than 2%. According to Glenn Neely, Wave theory expert and founder of NEoWave Institute, this confirms the end of the rally off November 30, 2010’s low and probably the end of the bull market that began at 2009’s low.
Recently, Mr. Neely warned subscribers to the NEoWave Trading and Forecasting services that a “major event” was on the horizon. In preparation, Mr. Neely instructed trading customers to go Short, right at last Friday’s high and clsoe, which is currently top-tick of the month!
Applying NEoWave’s advanced market confirmation techniques, Mr. Neely explains that today’s collapse confirms the end of an old pattern and the start of a new one. This new pattern suggests a 1- to 2-year bear market has begun and will likely result in a 30+% drop in market valuation.
While economic conditions have improved greatly since 2009’s low, NEoWave warns a new downturn (lasting 1- to 2-years) is beginning. As is always the case, markets anticipate future economic reality. While news has been improving, wave structure warns the U.S. stock market has turned a corner, setting the stage for an “echo” of the 2008/2009 financial crisis – but this time with a new twist. Instead of financial institutions and real estate markets being devastated, Mr. Neely suspects the most likely justification for this future market decline will be severe financial problems for federal, state and local governments. The result could be local and national transportation disruptions, public service problems and government employee layoffs around the country. Other circumstances that might justify a 30+% decline in the stock market could be a substantial increase in the cost of energy or a drastic increase in the value of the U.S. dollar (i.e. deflation).
Tictac
If the market changes, so will I.
