Here’s another classic from the EWI forecasting vault:
The NASDAQ Composite Index had been surging for years.
In late 1999, Short Term Update editor Steve Hochberg noted that the Nasdaq had a stunning similarity to Japan’s Nikkei Index in 1989 — just before the Nikkei began a grueling decline that wiped out 65% of its value.
On March 2, 2000 — 8 days before the Nasdaq peak — The Elliott Wave Financial Forecast flatly stated that the NASDAQ “now sits on the cusp of a sharp reversal.” The index peaked on March 10 and dropped 80% in the 2½ years after.
We do not hesitate when conditions demand action. Investors who read us THEN were primed to avoid disaster and preserve their buying power.
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