Claim #1: “Interest rates drive stock prices.”
Claim #2: “Rising oil prices are bearish for stocks.”
Claim #3: “An expanding trade deficit is bad for a nation’s economy and therefore bearish for stock prices.”
Claim #4: “Earnings drive stock prices.”
Claim #5: “GDP drives stock prices.”
Claim #6: “Wars are bullish/bearish for stock prices.”
Claim #7: “Peace is bullish for stocks.”
Claim #8: “Terrorist attacks would cause the stock market to drop.”
Bob Prechter had proven all the 8 Myths above. So, don't waste a brain cell to debate otherwise. Just accept it.
His view is that the outcome or forecast of the market is probabilitics and can be predicted via Elliote wave principle that manifest the social mood into a chart.
MyView
His predictions:
Hold Cash, wait for market to collapse, then only slowly start buying much later. Chances are high that he is right, based on his track record, as the chart now almost turn out a perfect chart heading for wave 5.
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