Another Decline Coming.....Nahhhh....?
There was no real reason besides the European Union for the U.S. stock market to decline in 2011 but it did. This happened in 5 waves down (not labeled), followed by the correction upwards that we are still in Today. Today's futures call for a lower open, and Yesterday's market (circled
in blue, top right of chart) is at the make or break point for the bear
market bull run continuation. This price level is the 100% retracement
for Wave 2 and cannot be broken for this bearish Elliott Wave count to be held
true. This means that the next day or two will let analysts like myself know a little more in regards to possible future price direction.
My questions as a "regular" and logical person are, "Why would the market decline this hard even after the 2000 and 2008 large declines? Why couldn't the market hold it's own if everything is 'ok' in the United States(EU no excuse)? If the stock market ALWAYS goes back up, then why hasn't the working public made any decent returns on their portfolio since 2000? Lastly, common sense and logic says that nothing can go up forever, so wouldn't there naturally be times when the market declines farther and for a longer period of time?"
The answer: It's because the U.S. is NOT OK, and we are in the midst of a larger overall decline within the global market. Evaporation of Wealth on a Vast Scale
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