Dow Downfall: Index to Fall Below 1,000 says Prechter on CNBC

Robert Prechter talks with CNBC's Maria Bartiromo and explains why he's sticking to the long-term bearish outlook outlined in Conquer the Crash.

Robert Prechter, president of Elliott Wave International, tells CNBC he's extremely bearish on the market and expects the Dow to fall below 1,000 within the next six years.

27 September 2010 @ CNBC

Category:

News & Politics

Tags:

• Dow
• Robert
• Prechter
• Elliott
• Wave
• International
• Conquer
• the
• Crash
• long
• term
• bearish
• outlook
• CNBC

[JustPlainPainting]

This guy is an idiot - all who follow him deserve every penny they lose following his stupid advice. If you bought into the market the day he said this drivel - you'd be up 20% right now!

[nafreehc]

If you look at rising debt and the declining value of virtually every currency in the world, what IS the Dow at in relation to the late what it was in the late '90's? I think Prechter has been right when it comes to real value and wrong only in the sense that the measuring sticks (fiat currencies) have been in constant decline.

[Zuppos123]

If you listen to people like Prechter, you might as well put you money in a mattress. He was terribly wrong in this video too which is typical. He said to stay out at Sept 2010, only to see the DOW climb 200 points. Elliotwave, fractal stuff is mainly just garbage. These people are like most people, when they're right, they become blowhards but when they're wrong, you don't hear a peep from them.

[superhawkn]

Bull crap only 1 percent own silver and gold wait until 39 percent own it then sell little bit off

[sharetipsinfo100]

Hi,

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[nategiz95]

We are in for another crash. August 8th was not a substantial crash. Look at finance . yahoo . com, DJIA 5 Year chart shows an head and shoulders pattern top before the crash of 2008, and a head and shoulder pattern top starting at Jan 3rd and ending in early august. I have done extensive research, and with the right conditions we can expect the DOW to plummet to 6 thousand easy, bottoming around 4 thousand.

[HillcrestCapital]

GOOD INSIGHT, BUT DOW BELOW 4000 WILL NEVER HAPPEN. IF IT DID BOEING 3M ECT WOULD BE REVVED UP FOR WAR TIMES.

[AlMori1]

glenn neely is better elliot wave analyst and he can do better job than bob prechter..... just my oponion

[aardvaark069]

Ummmm. Oops?

[TradersPlace]

Expecting Stiff resistance around 12000 areas for whole of 2011 in Dow, its 11,533 as I write this. Move below 7000 most likely before 2012.

Jayesh Gala (CFTe)

TradersPlace.in