Legendary technical investor Robert Prechter is awaiting a ‘depression-type’ shock in the U.S.

Robert Prechter with the 61,000 sheets of paper generated in the editing process for his new book, “The Socionomic Theory of Finance.”

A June 2015 profile of Robert Prechter, the world’s foremost proponent of Elliott Wave technical analysis, turned out to be the most popular investing story on MarketWatch for the week in which it was published.

One of the reasons is that, at the time, Prechter said the bull market in U.S. stocks was in a “precarious position” as a “mania” gripped investors, who pushed stocks to sky-high levels of overvaluation. The market has only risen since then, and it even got a bump from the November 2016 election of businessman Donald Trump as president.

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