Tuesday, June 16, 2009

Is The Rebound Over?

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According to Elliott Wave patterns in stock prices, it is possible that the rebound in mass mood since March is now over and the brunt of the collapse of Western Civilization is now underway. More specifically, it is possible that Primary Wave Two up in the wake of the March low around Dow 6500 peaked as the DJIA reached near the 9000 level last week:

There is still a significant possibility that, after a short-term pullback, stock prices will come back and rally to a higher high, like Dow 10,000. However, if the DJIA breaks below the March lows, then the odds are the rebound is over and the next leg down in the Grand Supercycle bear market is underway.

That major crises have emerged in Korea and Iran just as the reversal in mass mood takes hold is very alarming and suggests my earlier warnings that Primary Wave Three down could involve an outbreak of global war may be on the mark. Let's hope and pray not, but be ready just in case this is it.

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