Trader’s Narrative

The following article is based on analysis from Robert Prechter’s Elliott Wave Theorist. For more insights from Robert Prechter, download the 75-page eBook Independent Investor eBook. It’s a compilation of some of the New York Times bestselling author’s writings that challenge conventional financial market assumptions. Visit Elliott Wave International to download the eBook, free.
By Nico […]

This morning the Labor Department issued its report on employment conditions for September. The consensus estimate among analysts was -170,000 but the data came in at -263,000. This was worse than last month’s 216,000 job losses and even worse than most pessimistic estimates.
Here’s a long term chart of the nonfarm payroll data going back to […]

Back in April, when this rally was young, we looked at something called the Anxious Index - a sub-index of the The Survey of Professional Forecasters which has had an uncanny ability to not only find the start of recessions but also to foretell their end.
Its most recent data (3rd Quarter of 2009) shows that […]

Last week I presented a historical study of what happens when the S&P 500 is this far away from its 200 day moving average. If you missed it, click the link to check it out in full.
According to the study, when the stock market has trended enough to set off this indicator, it has trouble […]

Here is a terrifying interview with Marc Faber, editor of the Gloom Doom & Boom Report. I find it unsettling how calm and polite he is as he lays out the case for an inevitable collapse of the US dollar hegemony and the destruction of our economic system.
And in case you think he is some […]