Don't care for forecasters in general but I watched the video and he implies that the market is oversold in all terms, however could continue down, but will eventually rally sharply in the face of bad news which is going to scare people away from the rally until it is well underway. Obviously Prechter words his shit in a way that he's basically always right, like any forecaster who wants to stay on air should (i.e. in the scenario if the markets would have slumped for another two years with slowing downside momentum he would have been right and in the case of a sharp rally within a short point from now he would be right also). So, he's not wrong and not right either. It's better not to listen or care about people like Prechter.
Buddy, you are so clueless. This is a bull market and calling it a "bear market rally" is supremely stupid. Go ahead tell everyone the world is flat a few hundred times. It won't make the world flatter.
You need to use a proper measure of account to see through the currency debasement and confiscation of people's savings that ben unleashed in order to fund the deficit. Pricing the SPY in gold yields a different picture.
Prechter isn't trading, he's selling newsletters. Repeatedly calling for new bear market lows is more headline grabbing than predicting a boring, tight trading range.
After the 2002 low of about 750 the S&P rallied to nearly 1600 in 2007. Very few people thought it would ever go back to below 750, but it did. No reason the S&P cant go back down to 660 from current levels. First we drop back to 1000, then the S&P goes ape shit and falls 50pts a day, will only take a week or so to fall from 1000 down to 660.