Monday, July 6, 2009
Stock Market Has Hit Its High in 2009
According to Glenn Neely, the founder of Neowave global market will drop 50% in Next 6 months Glenn Neely, prominent Elliott Wave analyst, made a new announcement of an unexpected prediction: The S&P 500 has formed a major top in June, which will be followed by a large decline, eventually pushing the stock market to lows for last ten years. As Mr. Neely comments the situation, last October's bottom brought a new correction; the March-June rally is the final leg of that correction. "The March-June rally is ended, allowing the bear market to resume. During the next six months, the S&P will decline 50% or more, breaking well below 500 points. Currently, the S&P is steaks to 917 level. Glenn Neely stated this information not as a specific trade recommendation but as a general public service announcement. A founder of Neowave, Neely was recently recognized in Timer Digest's May issue as the #1 stock market analyst for the past 12 months.