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Recall crude oil's dramatic 2008 price collapse. The high that year was in July at $147.50 a barrel. By December, the price had plummeted to $30.28.
This chart shows how Elliott Wave Theorist subscribers were warned ahead of time. Continue reading "Oil's Slippery Slope: How Far Will Prices Fall?"
"In what traders called a 'bear raid,' sellers on Monday dumped an estimated 33 tonnes of gold in just two minutes on exchanges in Shanghai and New York, sending prices on a nearly $50 downward spiral from which they never fully recovered." (Reuters, July 21)
If you live in the U.S., maybe you've noticed lately that "We Buy Gold!" signs are disappearing from sidewalks in front of pawn shops. The signs really began popping up in 2010-2011, when gold prices were climbing to their all-time high of $1900 an ounce. And even after gold tumbled from that peak in September 2011, the signs stayed up for months. Only after gold fell below $1200 an ounce in 2013 -- and price stayed flat for almost two years -- did "We Buy Gold!" signs become scarce.
Someone may chuckle at this brief record of poor timing decisions, and maybe even put it down to the general investment ineptitude of laymen. Certainly, big-name gold market players -- like central banks, for example -- with their access to privileged information and armies of PhD's would not make timing mistakes like that. Right? Continue reading "Gold Hits a 5-Year Low: How to Time the Next MAJOR Bottom"
This article was adapted from Robert Prechter's June 2015 Elliott Wave Theorist. For more charts and detailed commentary, analysis and forecasts from Prechter's latest issues, click here for the extended subscriber version of this report -- it's free.
It is amazing to read assertions from the Fed and others that the stock market is nowhere near being in a bubble. Several aspects of the financial environment are actually so extreme as to be unprecedented. Some indicate a bubble, and others a bubble in trouble.
Below are eight indicators we are watching closely, among others.
1) Record debt in U.S. dollars
Total dollar-denominated debt peaked at $52.7 trillion in early 2009. At the end of Q1 2015, it stands at $59 trillion, an unprecedented amount.
2) Margin Debt at All-Time Highs
Never have more trading-account owners owed so much money, and never have they had such a low level of available funds from which further to draw. Continue reading "8 Unprecedented Extremes Indicate A Stock Market Bubble In Trouble"
The Shanghai Composite fell another 8% at the open on Wednesday (July 8). Trading was soon halted by the authorities. (But for a different reason that the trading halt on the NYSE the same day.)
From its all-time high on June 12, China's main stock index is down 32%. Using the word "crash" is becoming appropriate.
"At the moment there is a mood of panic in the market and a large increase in irrational dumping of shares, causing a strain of liquidity in the stock market," said China's Securities Regulatory Commission on Wednesday (bold added).
But the "dumping of shares" is not the only type of selling that's going on in China right now. Bloomberg reports that (bold added), Continue reading "China: What Deflation Looks Like"
I always say trading forex markets is like riding a bike -- except that said bike has one flat tire and the ground beneath it is covered in ice.
So why are they so popular, you might ask? In fact, forex is the most liquid market on earth, where trillions of dollars change millions of hands every day.
The reason people are so willing to ride that bike -- so to speak -- is because if you can stay on, the rewards are often unmatched. The trick, of course, is staying on.
There's no such thing as a fool-proof strategy. Slips and scrapes are bound to happen. But as the title of Elliott Wave International's chief currency strategist Jim Martens' go-to guide reveals, there is definitely a way "The Elliott Wave Principle Can Boost Your Forex Success."
Here below, you can read an exclusive excerpt from Chapter 1: Continue reading "The U.S. Dollar's 2014-2015 Rally: Wave 3 in Action"
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