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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.
Glenn Neely published Elliott Waves in Motion [4] in 1988 and Mastering Elliott Wave [5] in 1990 using Elliott Wave theory to present an objective approach to market forecasting called Neowave theory. Neely's Neowave theory is an expansion of Elliott Wave principles years after Elliott's death, including new patterns discovered with: Neutral ...
Modern application of Elliott wave theory posits that a Grand Supercycle wave five is completing in the 21st century and should be followed by a corrective price pattern of decline that will represent the largest economic recession since the 1700s.
Elliott wave principle is a form of technical analysis that finance traders use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors. Named for American accountant Ralph Nelson Elliott.
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In 1979 Prechter left Merrill Lynch and published the first subscription issue of the Elliott Wave Theorist.The 1970s had been very bullish years in the gold market but mostly bearish for stocks, yet his Elliott wave analysis called for a long-term reversal lower in gold (February 1980) [5] [14] and a long-term "super bull market underway" in stocks (October 1982).
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.
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.