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The Elliott Wave Principle is a form of technical analysis that
some 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. Ralph Nelson
Elliott, a professional accountant, discovered the underlying
social principles and developed the analytical tools. He proposed
that market prices unfold in specific patterns, which practitioners
today call Elliott waves, or simply waves. Elliott published his
theory of market behavior in this book "The Wave Principle."
Elliott stated that "because man is subject to rhythmical
procedure, calculations having to do with his activities can be
projected far into the future with a justification and certainty
heretofore unattainable."
If you are interested in technical or wave analysis, it should be
required reading. It is the definitive work on a scientific wave
theory of human experience. Nature's law: The secret of the
universe (Elliott Wave) is such an important, fascinating, even
mind-bending work, that it should be read by and and every serious
student of the market, be they fundamentalist or technician,
dealing in stocks, bonds or commodities.
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