Hear Glenn Neely's review of all NEoWave S&P forecasts for 2008 and learn how his scientific process anticipated 2008's bear market.
October 2008 Interview with Glenn Neely
As you know, 2008 presented a rocky, steep road for U.S. stock markets. In January 2008 – well before the current financial turmoil, bank failures, and government bailouts – Glenn Neely warned NEoWave subscribers the 6-year bull market was over and to prepare for a significant, long-term bear market.
On June 6, 2008, Glenn publicly warned: "The world as we know it is about to change. … This bear market will be like NOTHING we have experienced in 75 years! The odds are HIGH it will be a severe, deflationary recession that will unfold very swiftly – probably in just 6-12 months, but no longer than 18 months! Financially and economically speaking, there will be few places to hide. Merely having cash in hand will put you in a better position than most."
Hear an overview of Glenn Neely's 2008 forecasts
Listen as Glenn provides a chronological review of all NEoWave S&P forecasts for the past year, from January through September 2008. The forecasts illustrate how his logical NEoWave process anticipated the entire bear market to date. NOTE: Unlike many orthodox Elliotticians, who offer simultaneously contrasting bull and bear scenarios, Glenn Neely's NEoWave analysis presented a singular bear-market scenario for the entire year – with uncanny accuracy.
Hear the 20-minute interview with Ike Iossif, recorded on October 4, 2008
In an excerpt from Glenn's Saturday, October 4, 2008, discussion with Ike Iossif, Glenn said: "The current situation, short term, does not look good. The S&P is setting up for a final plunge. The S&P will move from the current level [1108 on Friday, October 3] and, sometime in the next week or two, will begin its fastest and largest vertical decline since 2001. NEoWave charts for the S&P show the final phase of an expanding E-Wave triangle. We should go through the final, scariest vertical collapse within the next two weeks, breaking 1000 – this will be a cataclysmic, scary event." NOTE: The S&P plunged 271 points from the close on Friday, October 3, to a low of 837 on Friday, October 10 – just 5 trading days later.
Glenn continues: "This will be the low for the next 3 to 6 months. Everyone will have a sigh of relief, but this is simply the first phase of an ongoing bear market. We still have a lot more to go. Don't think the worst is over yet. We'll be in big trouble over the next 1 to 2 years."