But what caused him to send out a special report to his Theorist
subscribers? 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. On Bloomberg TV, he said to Fox, "It
doesn't mean there has to be a crash, but it does mean keep your cash cool.
The market needs another leg down." Here are the two charts for you to
compare with your own eyes.

http://www.elliottwave.com/freeupdates/archives/2010
/08/13/Bullish-on-the-Dollar-and-Bearish-on-Stocks-B
ob-Prechter-on-Bloomberg.aspx