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The Elliott wave principle, or Elliott wave theory, is a form of technical analysis that helps financial traders analyze market cycles and forecast market trends by identifying extremes in investor psychology and price levels, such as highs and lows, by looking for patterns in prices.
Ralph Nelson Elliott (28 July 1871 – 15 January 1948) was an American accountant and author whose study of stock market data led him to develop the Wave Principle, a description of the cyclical nature of trader psychology and a form of technical analysis.
Prechter attended Yale University and graduated with a B.A. degree in psychology in 1971. He became a drummer for his rock band throughout circa early 1970s. [10] [11] His career as an analyst began when he joined Merrill Lynch as a market technician in 1975, where he learned much about the trade from Merrill's Chief Market Strategist, Robert Farrell (June 1982).
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The Elliott Wave Theorist is a monthly newsletter published by Elliott Wave International. The first issue of the Theorist was published in April 1976 and has been continuously in print on a subscription basis since May 1979.
Elliott Wave should not have to work with fundamental analysis. It is fully and completely independent of it. If there was a mathematical model, you would need to model the feedback loop between stock prices and future stock prices with human behavior. Elliott Wave should only be able to predict widely and freely traded securities.
Charlotte Hornets guard LaMelo Ball is the NBA's second-leading scorer, averaging 31.1 points per game. (Photo by Jared C. Tilton/Getty Images) (Jared C. Tilton via Getty Images)
The Pentagon says it's repatriated to Tunisia one of the detainees from the Guantánamo Bay military prison, leaving 26 in the facility.