Tuesday, April 23, 2013

Elliott Wave Theorist: Lows of Generational Proportions?

Please keep-in-mind that I am simply the messenger of the following forecasts put-forth by Robert Prechter of “The Elliott Wave Theorist." 
The latest edition of  “The Elliott Wave Theorist,” dated April 23, 2013, puts forth the following projections for Gold, Silver, and the Dow Jones Industrial Average between now and 2016:
  1. Silver will eventually take out its 1993 low of $3.51/ounce.
  2. Gold will fall below $200/ounce.  
  3. Equity markets should top out no later than Friday, May 3, for a 90% decline.  From today’s close of 14,719.46 on the DJIA, which would put the average at 1,472. 
What kind of economic scenario would bring about such low price levels for financial assets between now and 2016?  Answer: Deflation/Depression
 
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