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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.
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).
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.
During 2006–2007 the Dow Jones Industrial Average reached a new all-time high, which has been interpreted by some Elliott Wave analysts as indicating that 2000–2002 was not the beginning of a Grand Supercycle bear market. However, as this new high was merely a nominal new high in US dollars, and not a new high when measured in ounces of ...
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.
For example, for a certain demand level for train commuting, reserved tickets may be sold to those who like to guarantee a seat. Those who do not reserve seating may have to commute while standing. As more reserved seating are sold, the crowding in the non-reserved railroad car is reduced, and the likelihood of finding a seat in the non ...
Point and figure (P&F) is a charting technique used in technical analysis.Point and figure charting does not plot price against time as time-based charts do. Instead it plots price against changes in direction by plotting a column of Xs as the price rises and a column of Os as the price falls.
The Elliott Wave does not: it is sufficiently malleable that any failed forecast can be retroactively explained with new parameters for the "wave." THF 17:11, 28 July 2007 (UTC) [ reply ] Please read WP:Talk : Article talk pages should not be used by editors as platforms for their personal views.