Dave Goodboy alerted me to a press release that came across his desk today. An excerpt:
Aliso Viejo, CA (PRWEB) June 16, 2009 — Glenn Neely, founder of NEoWave Institute and prominent Elliott Wave analyst, today announces a startling prediction: The S&P 500 is forming a major top in June, which will be followed by a large decline, eventually pushing the stock market to record lows for the decade. “Technically speaking, according to NEoWave a correction began at last October’s low; the March-June rally is the final leg of that correction,” Neely explains. “The March-June rally is now ending, allowing the bear market to resume. During the next six months, the S&P will decline 50% or more, breaking well below 500!” Currently, the S&P is hovering around 917.
Neely might be right or he might be wrong, but regardless of what might happen in the future if you have a plan predictions are not needed.
