Robert Prechter is bullish on dollar and bearish on stocks

Robert Prechter is bullish on the dollar and bearish on stocks for the moment. This is because there is 6% bulls left in the dollar, as on 11 Aug 2010. As for the stock market, studying the Dow's wave structure since the top in April 2010 and comparing it with other wave structures, he discovered a similar set-up to 1987 before the October crash. He adds that "It doesn't mean there has to be a crash, but it does mean keep your cash cool. The market needs another leg down." The full report here.