Here the main points:
- The dollar rally is over
- The euro is ready for a bounce - could bounce to 1.30 wouldn't trouble
- Would prefer to be in the CHF and the EUR
- Doesn't give any short term forecast for the equity markets.
[Note: the video is embedded on the web site,
but doesn't appear on the RSS feed for some reason]
Prechter also appears in the current edition of Bloomberg-NewsWeek along with many other bears like Peter Schiff, Nouriel Roubini, etc. The cover of the magazine is big bears, which bothers me as it would mean as a contrarian indicator to we should have a bounce in the short term.