wednesday wobbly, page-105

RegularASX,

I hope you don't mind but I will politely decline to do your analysis for you, although if that kind of analysis floats your boat then I have a question that might interest you...

The Dow bottomed at 40 in 1932, after being close to 400 just a few years earlier!!... and then from that low at 40 it rose up into the multi thousands with nothing more than 50% corrections along the way... So why did it go to 40 in the first place if (as history shows) it was just going to turn around and never look back???

If the answer lies purely in the balance sheets and P&L statements of the companies that were index constituents at the time then I would expect that with a bit of leg work the data can still be retrieved and the answers found.

Fwiw I don't have a clear downside target for the Dow but I consider Prechter's views to be anything but delusional. He's already proven himself to be further ahead of the curve in this market than myself and plenty of others and his economic analysis makes a lot of sense. My knowledge of elliot wave should probably be described as 'sketchy'and 'sceptical' but that hasn't stopped Prechter from being very much on the money at key turning points.