Is The Dow Going To Fall Below 1,000?

Is the Dow Jones Industrial Average going to drop 90% and fall below 1,000?

Bob Prechter of Elliot Wave International was on CNBC stating that he believed that a market crash is coming. He is predicting a major market dip and thinks that the market has hit a top. He is bearish on the market as a whole for the next few years. Prechter believes that the worst of the crisis is not over and that the worst is yet to come. He may be correct but a Dow Jones that is at 1,000 sounds ludicous.

Do you agree of disagree with Prechter?