Robert Prechter says the Dollar’s Hit a “Major Bottom” According to Prechter, the Elliott Wave pattern in the US dollar confirms we recently hit the fifth wave down. Next stop is up. He also notes that sentiment has reached an extreme: “The Dollar Sentiment Index for the Dollar Index reports just 3% bulls among traders, an extreme level only five times in the past 20 years, usually near an important low,” Prechter wrote on Aug. 5. “The last time we saw readings …

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Prechter sees "Major Deflationary Depression", Claims "Dollar Hits Major Bottom"