December 14, 2009
News: In New Interview, Glenn Neely Discusses His 2009 Forecast For A Protracted Recession And 20-Year Bear Market
December 14, 2009 - Glenn Neely, founder of NEoWave Institute, stated nearly two years ago in a public release that the U.S. stock market was ready for its most severe decline in decades.
His January 2008 forecast declared: "The bull market is over! ... the U.S. will be in a protracted recession. As multiple financial bubbles of the last 1-2 decades unwind, it will seriously impact our economy." The past two years have produced the most devastating, volatile stock market environment and economic conditions since the Great Depression, just as predicted by Neely.
In his most recent audio interview, Glenn Neely discusses his January 2008 forecast, which predicted that stocks were embarking on a 4- to 6-year bear market. In addition, Neely discusses why, as the current Wave structure continues to unfold, the U.S. economy is facing an overarching 20-year consolidation.
Click to hear Glenn Neely's interview
Here is the actual text of Glenn Neely's controversial January 2008 forecast:
"The Bull Market is Over!!! With today's decline I can finally confirm what I have been warning about for at least 6 months, that the 5-year bull market in the S&P (from 2002's low) is finally over! Monday, January 14, 2008 began a new 4-6 year BEAR MARKET! Maximum downside potential is not clear, but over the next few years, the cash S&P will easily break 1000! From the above, we can reasonably assume the U.S. will be in a protracted recession. As multiple financial bubbles of the last 1-2 decades unwind, it will seriously impact our economy. Not great news, but better to be prepared than be in the dark."
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 https://www.NEoWave.com