Here's an ultra bullish scenario. Not yet convinced it rates a...

Here's an ultra bullish scenario. Not yet convinced it rates a high probability yet but time will tell.

DOW finished a 5 wave primary degree wave up from the 2009 low. We are now in a corrective pull-back, yet to be complete. Target for the pull-back around 8???. Once this pull-back is over, DOW reaches at least the all time highs. I know, this is a big call but as I said it's not my favourite, but is feasible nevertheless. What makes it feasible are some of the psychology and fundamentals.

1. It's not a popular call. There are too many people all over the world calling for a double dip recession or even a depression around the corner.
2. It will discredit and decimate Prechter once and for all, which is what I expected for some time before the market eventually peaks and crashes big time.
3. All the money being pumped into the system by various governments will cause runaway inflation, hence rising asset prices (so make gold a good buy on pull-backs) before the asset bubble finally busts then a depression.

Of course, there's the opposite side of the argument pointing to continuation of deflation directly leading to a depression skipping the inflationary spiral. Gold will still rocket up but only for a short time and only when the fiat money (including the USD) loses control and collapses, leading to a major financial panic in world markets.

I tend to favour the latter but wouldn't bet the house on it just yet.