08/08/08 The long-awaited Summer FINANCIAL Olympic Games has begun. Hosted by the August 2008 Elliott Wave Financial Forecast, this event showcases the world’s leading economic athletes as they compete in the race toward opportunity.

Here are just a few of the event’s most show-stopping details:

Diving into investment pools: The July 2006 Elliott Wave Financial Forecast warned against big banks diving headfirst into Collaterized Debt Obligations — and wrote: “Banks will find themselves with a shared interest in broken down pools of defaulted mortgages and or other ‘synthetic’ CDO’s which will not be worth the paper they’re written on.”

On July 28, 2008 Merrill Lynch joined the long line of battered, bulge-bracket firms by writing down 75% of its CDOs. Now, our analysts reveal what kind of “splash” asset-price deflation will make on the overall economy.

Synchronized Stock-Market Swimming: The Dow Jones Industrial Average set an all-time high in October 2007, but the Dow Utilities and Dow Transportation Averages didn’t reach their peaks until May and June of 2008 — Bullish divergence OR belated topping process? Our original close-ups send a clear message: ALL three Dow Indexes will soon be aligned to one side.

“[Red] Parade of Nations” The August 2007 Elliott Wave Financial Forecast cautioned against widespread faith in overseas markets becoming an “antidote to the bear.” We said: “Falling prices lie directly ahead for most foreign markets as… U.S. investors are stuffed to the gills with stocks from far away place.”

Today, the financial flags of the world hang LOW as an “economic tempest takes over Europe,” Pakistan, India, Russia, China, and the U.S. The way we see it, the next stage of the global trend will enter unchartered territory.

The Financial Olympic Mascot: Grizzly Bear? In the August 2008 Elliott Wave Financial Forecast, our analysts show how the leading economic sectors will “score” in the months ahead.

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The Torch of Consumer Spending Burns Out: The $100 billion (and counting) tax rebate checks have been about as “stimulating” as a tranquilizer. Case in point: A telling chart of the U.S. Savings Rate over the past four decades reveals a strong up-tick since 2005 — alongside a similarly telling DROP in the 13-week Rate of Change for Money Supply (M2). Is it time to stash your money in cash?

Yellow Ring: Last month, the July 2008 Elliott Wave Financial Forecast presented the following GOLD insight: “As we go to press, sentiment is still allowing for plenty of downside potential.” Now, with gold prices more than $100 BELOW their July 14 peak, our analysts compare the precious metal market to the “higher-beta junior mining issues.” Are precious metals REALLY a safe place to hide?

“Black-GOLD” Medal: The July 2008 Elliott Wave Financial Forecast was loud and clear: “Energy trading has reached an important mania era endpoint.” From its July 11 all-time high, crude oil has plunged 20% to a three-month low, alongside the biggest drop in the CRB Commodity Index in 28 years. According to the August publication, “sentiment” has reached a perfect set-up for one kind of move.

Believe it or not, that’s just the Opening Ceremony. Get the entire Financial Forecast Service today and stay in front of the long-term trend changes in store for hedge funds, housing, financials, bonds, the U.S. dollar, silver, fashion, movies, and still more.

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