Sometimes you make a snap decision -- and then cringe when looking back. If only someone would have tapped you on the shoulder and said, "Hang on, don't do that!"

When it comes to your financial decisions, EWI's Short Term Update strives to be that voice of reason. Editor Steven Hochberg applies Elliott wave analysis to the DJIA, S&P, NASDAQ, gold, silver, T-bonds, the euro and the U.S. dollar -- all in an effort to be the "tap on the shoulder" we could all use.

Last Friday, September 16, The Short Term Update warned subscribers that the stock market's Elliott wave pattern was turning decisively bearish:

"Update for Friday, September 16, 2011; 5:15 PM, EDT.

"[Bottom Line] The stock market is nearing the end of the upward correction from early August. The next major market move should be down."

How did he come to this conclusion?

"The Elliott wave structure, in conjunction with the weight of technical evidence, strongly indicates that the stock market is in an upward correction from the August 9 lows. Our stance on this issue has not changed.When the correction exhausts, prices will retrace all of the point gains from August 9 [and draw] the major indexes to beneath the early August low."

The DJIA fell below the August low on September 21, four days after this forecast was made.

Steve Hochberg published a special interim Short Term Update on September 22 to keep his subscribers abreast of the very latest market developments.

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