Prechter: Stocks Will Plunge More than 40 Percent
Stock guru Robert Prechter isn’t impressed by the recent stock-market rally. He says the Dow Jones Industrial Average is headed down to 6,800, 44 percent below current levels.
Technical factors will drive the market down, Prechter, president of Elliott Wave International, tells Yahoo’s Tech Ticker.
Indicators show investors are excessively bullish on stocks, he says.