The size of the wave will surprise most everyone

If you're a passenger aboard a ship in deep water, you can't detect a tsunami; the swells are indistinguishable from regular ocean waves. Wave lengths can be hundreds of miles long, but only when this energy reaches shallow water does the mammoth tsunami wall form -- and can wash over anything in its path.

So when forecasters warn "Move to higher ground!" it's not wise to think, "Until I see the tsunami, I won't believe it's coming." Once it's visible, it's probably too late.

It's equally unwise to ignore signs of a financial tsunami.

Investors who wait ... before acting will be too late. We have to anticipate developments, and the only way we can do that is to use tools that reveal signs of approaching trend change.

The Elliott Wave Theorist, March 2012

The most famous financial tsunami in modern history occurred in 1929-32. Almost no one saw it coming. For example, the observation below was made shortly before the 1929 Crash.

Stock prices have reached what looks like a permanently high plateau.

Yale Professor Irving Fisher, Oct. 1929

Other prominent people did not see the signs of economic trend change that led to the 1929-32 deflationary crash.

Fast forward to this July 18, 2012, CNBC headline:

Fed's Bernanke: 'We Don't See a Double-Dip Recession'

When reading such comments, one might ask, "Is history repeating itself?"

Elliott Wave International believes only a relative few suspect the magnitude of the approaching economic wave, including the world's financial authorities.

This largely undetected financial tsunami has been silently traveling for at least 80 years. Once ashore, the outcome may rival 1929-32.

A detailed description of that wave and its expected effects is in the bestseller, Conquer the Crash, now in its second edition.

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This article was syndicated by Elliott Wave International and was originally published under the headline The Financial Tsunami Headed To Shore Has Been Building for 80 Years. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.