{"id":23748,"date":"2017-04-23T18:33:48","date_gmt":"2017-04-23T23:33:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23748"},"modified":"2017-04-23T18:33:48","modified_gmt":"2017-04-23T23:33:48","slug":"legendary-technical-investor-robert-prechter-is-awaiting-a-depression-like-shock-in-the-u-s","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23748","title":{"rendered":"Legendary technical investor Robert Prechter is awaiting a depression-like shock in the U.S."},"content":{"rendered":"
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Legendary technical investor Robert Prechter is awaiting a depression-like shock in the U.S.<\/a><\/h3>\n<\/div>\n<\/div>\n
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He tells Avi Gilburt in a Q&A that today\u2019s mood of optimism will give way to a funk that will rival that of the 1930s<\/p>\n<\/div>\n

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Robert Prechter with the 61,000 sheets of paper generated in the editing process for his new book, \u201cThe Socionomic Theory of Finance.\u201d<\/figcaption><\/figure>\n

A June 2015 profile of Robert Prechter, the world\u2019s foremost proponent of Elliott Wave technical analysis, turned out to be the most popular investing story on MarketWatch for the week in which it was published.<\/p>\n

One of the reasons is that, at the time, Prechter said the bull market in U.S. stocks was in a \u201cprecarious position\u201d as a \u201cmania\u201d gripped investors, who pushed stocks to sky-high levels of overvaluation. The market has only risen since then, and it even got a bump from the November 2016 election of businessman Donald Trump as president.<\/p>\n

I recently interviewed Prechter, who released a ground-breaking book, \u201cThe Socionomic Theory of Finance<\/a>,\u201d at the end of December. In the 813-page book, which took 13 years to write, he proposes a cohesive model that takes into account trends in sociology, psychology, politics, economics and finance. I highly recommend the book.<\/p>\n

As I\u2019ve explained here<\/a>, Elliott Wave theory says public sentiment and mass psychology move in five waves within a primary trend, and three waves in a counter-trend. Once a five, or V, wave move (the waves are sometimes described in Roman numerals) in public sentiment is completed, it is time for the subconscious sentiment of the public to shift in the opposite direction, which is simply a natural cause of events in the human psyche, and not the operative effect from some form of \u201cnews.\u201d<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Legendary technical investor Robert Prechter is awaiting a depression-like shock in the U.S. He tells Avi Gilburt in a Q&A that today\u2019s mood of optimism will give way to a funk that will rival that of the 1930s Robert Prechter with the 61,000 sheets of paper generated in the editing process for his new book, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[15200,2310,15201,15202,827],"class_list":["post-23748","post","type-post","status-publish","format-standard","hentry","category-economics","tag-avi-gilbert","tag-depression","tag-robert-prechter","tag-socioeconomic-theory-of-finance","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23748"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23748\/revisions"}],"predecessor-version":[{"id":23749,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23748\/revisions\/23749"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}