Is an historic stock market crash underway on Wall Street?

We're just asking the question, not making a prediction.

But day by day, hour by hour, this year's market action is more and more saying... maybe?

 

Market Update - Friday 06/24/16 4:00 PM EDT
Global financial markets took it on the chin today, following the positive "Brexit" vote.

Most foreign stock markets had plunged 3 to 8% by time US stocks opened sharply lower in New York. The DJIA sank 550 points at the open, then mounted a weak counter-trend bounce to down "only" 300 points. It was all downhill from there, as the DJIA went on to closed down 610 points (3.4%). The NASDAQ mini-crashed 202 points (4.1%) on the day. It was the worst day for the NASDAQ since 2011.

Gold soared $60 to $1,320, its highest level in two years.

So where do the markets go from here? Was the rally just another temporary dead-cat bounce? Has the bear market resumed in full force? Stay tuned next week!

 

Market Update - Friday 06/23/16 9:45 AM EDT
As expected, US stocks open the day in mini-crash mode. The DJIA is down 525 points (2.8%) and the NASDAQ is lower by 160 points (3.2%). Gold is up $65.00.

Stay tuned for a wild Friday on Wall Street!

 

Market Update - Friday 06/23/16 12:45 AM EDT
The people of Britain have spoken, and Leave wins the day. That's all the world needed to hear.

Global markets are reacting dramatically to this "unexpected" event and stocks are plunging. DJIA futures are down 725 points (4.0%) and the NASDAQ futures are sinking by a stunning 225 points (4.2%). Gold is soaring, up $100.00 in London trading.

Stay tuned for a wild Friday on Wall Street!

 

Market Update - Thursday 06/23/16 4:00 PM EDT
US stocks rallied again on big bets that the British people will indeed vote to keep the country in the European Community. The DJIA surged 230 points (1.3%) and the NASDAQ soared 76 points (1.6%).

So where do the markets go from here? Was the rally just another temporary dead-cat bounce? Will the bear market resumed? Stay tuned!

 

Market Update - Wednesday 06/22/16 4:00 PM EDT
US stocks slipped a bit, still holding its collective breath over Thursday's "Brexit" vote. The DJIA dropped 49 points (0.3%) and the NASDAQ dipped 10 points (0.2%).

So where do the markets go from here? Was the rally just another temporary dead-cat bounce? Will the bear market resumed? Stay tuned!

 

Market Update - Tuesday 06/21/16 4:00 PM EDT
US stocks bounced around in modestly higher ground today, as the financial world awaits Britain's vote on leaving the European Union on Thursday. The DJIA gained 25 points (0.1%) and the NASDAQ edged higher by 6 points (0.8%).

So where do the markets go from here? Was the rally today just another temporary dead-cat bounce? Has the bear market resumed? Stay tuned!

 

Market Update - Monday 06/20/16 4:00 PM EDT
US and world stocks jumped early today on renewed hopes that Britain would vote to say in the European Union. There was no follow-through to opening rally and US stocks trended lower the rest of the day, cutting the opening gains about in half. The DJIA closed up 129 points (0.7%) and the NASDAQ closed higher by 37 points (0.8%).

So where do the markets go from here? Was the rally today just another temporary dead-cat bounce? Has the bear market resumed? Stay tuned!

 

Market Update - Friday 06/17/16 4:00 PM EDT
There was no follow-through to Thursday's rally, as US stocks opened sharply lower again. An afternoon bounce cut the day's losses. The DJIA closed down 58 points (0.3%) and the NASDAQ dropped 45 points (0.9%).

So where do the markets go from here? Was the rally today just another temporary dead-cat bounce? Has the bear market resumed? Stay tuned next week!

 

Update Archive

 

So where do the markets go from here? We sure don't know. And anybody who claims to know exactly what's coming is lying to you.

The entire global financial system is in unprecedented, uncharted waters.

  • Global debt is much worse than it was in 2007.Z
     
  • Mega-trillions in derivatives trade like $1.00 trifecta tickets.
     
  • Despite eight years of near-zero interest rates, the global economies are barely registering a pulse.
     
  • Gold has been revived, and is up 18% in just the first 6 weeks of the year.
     
  • And on and on.

How bad are things? How unprecedented and uncharted?

Recently, several Central Banks entered the monetary Twilight Zone by cutting their benchmark interest rates to below zero. That's right, if you're a big bank, you can actually "make money" by borrowing money. When the loan comes due, you pay back less than the amount you borrowed. What a deal!

And the perverse flip side of negative interest rates is that when you deposit your hard-earned money in the bank, not only do you not earn any interest, the bank charges you a fee just for the privilege of making the deposit. You have less and less money in your account every day. What a rip-off!

All of this financial insanity can only be seen as a desperate last-resort attempt by Central Bankers to stimulate their economies by force-feeding them with "better than free money". (Free money that is conjured up out of thin air with a few mouse clicks, that is.)

About the best we can say for the markets ahead is "expect the unexpected."

 

But if there's one thing that all stock market analysts and forecasters agree upon, it's that "markets don't move in straight lines" (at least not for very long). Look at any chart of any stock, any commodity, anything that is traded on an open market and you just don't see long straight lines.

So if markets don't move in straight lines, how do they move? Again, look at any chart and it's obvious: markets move in zigs and zags. A more technical description of zigs and zags is waves. And there is no better way to analyze and interpret chart waves than with Elliott Wave analysis.

Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the largest independent financial analysis and market forecasting firm in the world. EWI's analysts cover every major market (stocks, currencies, bonds, energy, metals, commodities) worldwide, 24 hours a day.

The stock market waves have been warning of a major market meltdown for quite some time. Has that moment finally arrived?

As Bob Prechter warned, and as the market action during the 2008-2009 financial crisis proved,

"Bear markets move fast and are intensely emotional;
investors and traders who are prepared have greater
opportunities on the downside than on the upside."

We urge you to stay on top of the latest market action with commentary and reports from our friends at Elliott Wave International.

 

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