I read in an online article that Prechter of (elliotwaves.com) stated that he believes that the DJIA will continue to range as it did from 1962-1982. Anybody have a link to that article? I have been looking everywhere for it.
I found it with a simple Google search. Q: Will the bear market be similar to the one that followed that peak? Bob Prechter: Similar, yes, but while the bear market of the 1700s produced 64 years of a zigzag pattern, a very simple down-up-down shape, this one is likely to be a sideways pattern, which will manifest as plummeting major declines punctuated by tremendous rallies back to near or slightly past the old highs. If you take a look at the Dow Jones Industrial Average chart from 1966 to 1982, you can get an idea of what I'm expecting. But it will occur on a larger scale.