Robert Prechter and the team at Elliott Wave International are releasing July’s 10-page Elliott Wave Theorist (market outlook and prediction service) for free and I wanted to provide the link for you.

Mr. Prechter recently received wide acclaim for going on CNBC and releasing similar public reports and interviews when he proclaimed “Cover Your Shorts” shortly after the March 2009 lows in anticipation of a large rally that he said would take the S&P 500 up to the 1,000 level – he was correct in that call.

You may have heard Mr. Prechter back on CNBC sharing his analysis that the corrective rally is close to an end, or may already have ended, so he is warning caution ahead for the markets after such a strong rally off the lows which he considers a “Bear Market Rally.”

You may download last month’s Theorist either via the promotional image above, or the prior text link above.

From EWI’s website, here is the introductory text to the article:

“One of Bob Prechter’s most recent Elliott Wave Theorist is now online, free!

In this issue, Bob gives a warning he’s never had to include in 30 years of publishing – namely, that the doors to financial safety are closing all over the world.

There are but a few opportunities left and little time to take them. Even as this happens, the terrible irony is that so many people believe the conventional wisdom, which claims “the worst is over.”

Mr. Prechter has been known to make bold predictions, and I have always been impressed with his knowledge and grasp of markets, particularly in regards to the Socio-economic influences that others rarely discuss.

I’m personally not as bearish as Mr. Prechter, but it helps to keep an open mind and learn from the perspective and insights of such a long-term market veteran.  In addition, word of this article is spreading over the internet, so it can be helpful to go to the source and read Prechter’s direct commentary.

My thanks to Mr. Prechter and staff for making this report public for all of us to study.

Corey Rosenbloom, CMT