Warning signs are flashing for trader Dick Diamond. His indicators show numbers he hasn't seen in his four-decade career. Couple what Diamond says with what the Wave Principle suggests about the current stock market -- it amounts to what analysts call a "critical juncture."
If you're not familiar with Dick Diamond, this word of introduction should help: Bob Prechter respects the man's skill as a trader so much that Elliott Wave International's website offers Dick Diamond's trading course.
Diamond belongs to that rarest breed of traders -- his success spans four decades, as I noted above. As I'm sure you know, the vast majority of individuals who embark on a trading career don't last a fraction of that time.
Why do I carry on about this highly respected trader? It is NOT to promote a trading course (though I understand they are excellent). Put simply, I want to establish his credibility. In turn, when you read what Dick Diamond is saying about the market now, you'll take it as seriously as he does.
Diamond has traded in all sorts of market environments. To say he's "been around" is an understatement. He was trading long before the day-trading craze took off in the '80s and '90s -- he survived and thrived through it all.
What he relayed to Bob Prechter is simple, short, and significant.
You can read about it in the March edition of the Elliott Wave Theorist -- which also includes what Bob himself expects in the days and weeks ahead.