(Go To Peak Alert)

"Technical indicators reveal that the stock market is engaging
in one of the rarest of events, a blowoff, i.e., an accelerating
upward move into a spike reversal that resolves in a crash.
How rare is a stock market blowoff? One has not occurred in modern
history. They are common in fifth waves of Primary and Cycle
degree in commodities, but not in stocks. Even the upward surge
in 1928, the closest thing to a blowoff in the last 276 years,
was followed by a five-month consolidation and a new high on
lesser upside momentum, the typical profile. The last time the
stock market had a commodity-like ending was the year 1720,
which saw the culmination of investment manias in England and
France. That was the last time a wave of Grand Supercycle degree
ended. So in this context, a blowoff is apparently normal stock
market behavior. This advance has the characteristics
of a terminating fifth wave."

-Robert Prechter, excerpt from his February 9th issue of
"The Elliott Wave Theorist" (see Feb.19th Barron's, p.MW46)

The rise to a final peak of Western society is shown below:

(NOTE: Please be patient for the images to be sent to your computer.)

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