Prechter Called the Uptrend ‘Out’ in April

Even non-sports fans have heard by now about the recent debacle known as “Baseballgate” — with two outs in the ninth inning, the first base umpire called “SAFE” when the runner was clearly “OUT.” The missed call cost Detroit Tiger pitcher Armando Galarraga a perfect game. But the Biggest, Baddest Call of all was not made on a sports field. It was made in the field of finance — specifically on the stock market. To wit: The mainstream “umpires” of finance stood near first base, and in April made this emphatic call for the uptrend in stocks.