Technically speaking, according to NEoWave a correction began at last October's low; the March-June rally is the final leg of that correction
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.
Glenn Neely is providing this information not as a specific trade recommendation but as a general public service announcement. A prominent Elliott Wave analyst, Neely was recently recognized in Timer Digest's May issue as the #1 stock market timer for the past 12 months.
For those who want detailed trading strategies and insight, Neely provides specific recommendations to subscribers of the NEoWave Trading Service.
About Glenn Neely and NEoWave Institute:
Glenn Neely, who is internationally regarded as the premier Elliott Wave analyst, founded the Elliott Wave Institute in 1983. In 1990, Neely published his advanced Wave analysis process in his now-classic book, Mastering Elliott Wave. In 2000, Neely changed the name of his research and advisory firm to NEoWave Institute to differentiate his scientific Wave analysis technology from orthodox, subjective Elliott Wave analysis, which is frequently nebulous, inaccurate, and constantly fluid.
What is Elliott Wave? In the early 1930s, Ralph Nelson Elliott presented his theory of market behavior, which quantifies each stage of an economic cycle into specific patterns of mass psychology. Glenn Neely has devoted more than 25 years to mastering and advancing the concepts of Wave theory. Neely refined Elliott Wave theory to make it objective, practical, and consistently accurate, producing his now-famous NEoWave technology. This precise, step-by-step assessment of market structure leads to low-risk, high-profit investing and trading. Orthodox Elliott Wave, devoid of such technology and rules, typically leaves the analyst with ambiguous interpretations, seriously flawed results, and dual-directional forecasts.
Today, decades after R.N. Elliott penned his original theory, countless investors and traders trust Neely's revolutionary, step-by-step NEoWave approach to market analysis. Devotees of NEoWave Institute and Glenn Neely are reaping the rewards of low-risk, high-profit investing. Learn more about Glenn Neely and NEoWave Institute at http://www.NEoWave.com.