Elliott Wave Theory: The Key to Market Behavior: The Key to Market Behavior (20th Anniversary Edition)

Author: Robert R. Prechter
Publisher:
Publication Date: 2003-01-01
Features: "The Elliott Wave Theory" is such an important, fascinating, and even exciting book that we believe all serious market scholars—whether fundamental analysts or technical analysts—should read it when dealing with stocks, bonds, and commodity futures. Now let's talk about Ralph R. Elliott. When he was gradually developing his theory, it is likely that he had never heard of Pigou. Elliott had been working in Mexico for a while, but due to illness, I think he said anemia, he returned to his front porch rocker in California. With enough time and his efforts to overcome his situation, Elliott began studying the historical movements and reflections of the stock market using the Dow Jones Average. From his long-term research, Elliott found that the same phenomena kept recurring, just as the preacher quoted in the beginning of this preface mentioned. Elliott integrated the discoveries of "the Tao" during the process of developing his theory, and in both comprehensiveness and precision, it went further than the theory of "the Tao." Both of these individuals had sensed the involvement of human equilibrium in controlling market movements, but "the Tao" took a broad, impressionistic approach, while Elliott created detailed, meticulous depictions—his approach was more extensive.