Elliot Wave Theorists Claim Pandemics Always Happen In a Bear Market

Elliot Wave International has just written an article entitled "Swine Flu and Elliot Wave Analysis", claiming that pandemics only happen in bear markets.

Their theory seems to be that a downbeat social mood leads to both a bear market and susceptibility to disease.

I will leave it to the technical market analysts and the epidemiologists to decide whether the theory is right or wrong.

Note: At least some people have tried to blame the plague on the 1340 economic depression.