Today’s invited guest blogger is Denis Bouchard from Taiwan. Please check out his long-term historic viewpoint on Fibonacci waves and how he comes to view today’s market. Feel free to comment  on this blog.

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Elliott Wave Insights, Part IV The End of a Six Thousand Year Elliott Wave Cycle

It has been several years since Elliott Wave Insights, Part III was published. With the major markets near the cusp of a directional change, the present is a very appropriate time to take several steps back and consider the overall picture of the wave pattern. A bird’s eye view of Elliott Waves from the beginning of human history may give us insights as to what lies ahead.

Strictly speaking the earliest stock market records are to be found in

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TODAY: Chief of staff denies decisions on Kaliningrad plan; Churkin criticizes US 'cold war attitude'; arms reduction talks not progressing as smoothly as they may appear.  Israel maintains choice in Iran; Russia suggests onus on NATO to improve ties; ship plans for Abkhaz waters.  Moscow court rejects appeal for Vasily Aleksanyan; 'anti-Soviet' restaurant feels Mitvol's wrath.Russian Ambassador Vitaly Churkin has said that US Defense Secretary Robert Gates's insistence that the decision on missile defense was not about Russia reveals 'a rather difficult negotiating partner, a partner who is loaded in many ways by a Cold War mentality'.  The Chief of Russia's general Staff has stated that no decision has yet been made on plans to deploy ...

Boris Nemtsov has an aggressive piece running in the Wall Street Journal today criticizing the Russian government's handling of the escalating violence in the North Caucasus.  Agree with him or not, he is pointing at a very important problem which has the potential to become much larger.One of the biggest myths perpetrated by Vladimir Putin's propaganda machine is that during his 10-year rule over Russia, the former president and current prime minister succeeded in "pacifying" the North Caucasus. Nothing could be further from the truth. What we are witnessing today is the start of the third Caucasus war in 15 years, following the two Chechen wars of 1994 and 1999.  (...)

Another important reason for the Kremlin's Caucasus failure is the elimination of democratic procedures. "Elections" in which Mr. Putin and his party receive 100% of the vote on a 100% turnout in Chechnya, Ingushetia and

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Do you remember this time last year? As spring turned to summer, energy prices were moving upward. By mid-July 2008, oil prices peaked at $147 per barrel. But as with Gen. Pickett and his famous charge at Gettysburg, that lofty level of $147 was the high-water mark for oil prices.

By August of last year, the price of oil was retreating, and it was a hard slog on the way down. By midwinter, in December 2008 and January 2009, oil prices were in the $30s per barrel - a drop of over 75% within six months. It was a wild ride.

Natural gas had a similar rise and fall last year. In July 2008, the NYMEX price for natural gas was around $13 per mcf (thousand cubic feet). By October 2008, that price was cut in half. In fact, natural gas prices trended down throughout the chilly winter of 2008-2009. The current

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