GAINESVILLE, Ga. / November 23, 2010 -- If you're a baby boomer, the answer is yes. In 1968, North Korea "shocked the world" by seizing the USS Pueblo, a U.S. spy ship, off its shores. Today's headlines of artillery attacks on South Korea are a stark reminder that the Communist state is still primed for conflict nearly six decades after the Korean War.
"Conflict with North Korea invariably appears near market peaks. These events are useful signs." - Elliott Wave International, May 2006
North Korea has a long history of agitation followed by an act of reconciliation. What does the recent artillery attack on a South Korean island - its "fiercest attack in decades" - signify? According to analysts at Elliott Wave International, increased controversy is a useful sign in identifying financial trends. In the past, important market turns, such as those in 1994, 1998, 2000 and 2003 were accompanied by major acts of aggression or reconciliation from North Korea. Could one be upon us now?
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Note to media: For a copy of the research referenced in this media tip or to speak with an analyst at Elliott Wave International about what North Korean violence means for the future of the financial markets, contact Alexandra Lienhard, 770-536-0309.
About Elliott Wave International (EWI) Based in Gainesville, Ga., EWI is the world's largest market forecasting firm that specializes in Elliott wave analysis, a form of technical analysis based on crowd psychology and pattern recognition. EWI's analysts provide around-the-clock forecasts of every major market in the world. Learn more at www.elliottwave.com.