Q: Can wave patterns detect market manipulation; to begin with can markets be manipulated for sustained periods of time or at all?
A (Bob Prechter in the August 7 interview with Outlook Profit; bold added): No person or agency can manipulate broad markets, at least not for more than a day or two. The natural movements of markets make it appear sometimes that they can. I smile when I see reports such as, “The Fed is losing control of the bond market.” As if it ever had control in the first place. When markets go up, the Fed seems to be in control; when they go down, it seems out of control. But the control aspect is an illusion. Market direction is the sole basis upon which people decide whether the Fed is in control or not. And markets go two ways, dictating the changes in perception.
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