Prechter has been looking for a top since late August actually, but the market really hasn't advanced much since then.abs wrote:In today's Elliot Wave Theorist, Robert Prechter is calling for an extremely likely top in the US equities market by the end of this week. He called both the massive leg down starting at the end of '08 as well as the turn in March with uncanny accuracy. He's been expecting a turn down for some time and may have starting calling for it a little early a couple of months back, but I think he may really be right this time.
Andrew
Perhaps with the great earnings news from Intel the stage is finally set, as the maximum number of people possible may believe that the stock market and economy have turned around.
A lot of technical market indicators have been signalling a high for some time and others have recently signalled a high. One is the equity put call ratio which is linked at freddy's site. This indicator has been at a bullish extreme since August, and has been at a greater extreme in the past 5 months than it was during the year of the all time high in 2007. There are other indicators that have recently signalled at least a short term high is at hand.
Regarding your question about foreign currency, that was discussed some a few months ago in this topic. A search for Singapore will bring up some discussion.
Wrong Way Higgy