[Article] Does the Wave Principle Subsume All Valid Technical “Chart Patterns”? Part III
Part III of Robert Prechter’s “Does the Wave Principle Subsume All Valid Technical ‘Chart Patterns’?”
Part III of Robert Prechter’s “Does the Wave Principle Subsume All Valid Technical ‘Chart Patterns’?”
This paper addresses the question of whether the Wave Principle is a set of market patterns separate from those asserted in other forms of “technical” chart analysis.
This issue describes the bases for judging the record for the 15 intermediate turning points for the same period discussed in part I.
According to leading physicists and mathematicians who propose a fractal nature to financial markets, forecasting specific market developments is impossible.
Another Example of Rationalization, Ripped from the Headlines.
This essay by Robert R. Prechter, Jr. originally appeared in: The Colours of Infinity. Clarke, Arthur C., et al (2004). UK: Clearpress, pp. 128-139 View PDF R.N. Elliott’s Discovery In the 1930s, Ralph Nelson Elliott discovered that aggregate stock market prices trend and reverse in recognizable patterns. In a […]
How does one apply socionomic techniques to economic forecasting? A socionomist knows that the stock market is a meter of social mood, which is the engine of social progress and regress. Therefore, the current-time change in the stock market is an immensely useful indicator of upcoming economic change.
Since plotting an aspect of a stylized tree produces a stylized Elliott wave, we may reiterate the suspicion that plotting aspects of robust fractals in the form of arbora in nature is likely to produce robust fractals called Elliott waves, with all the natural order and variation that we have come to know from their expressions in financial markets.
It is one thing to say that the Wave Principle makes sense in the context of nature and its growth forms. It is another to postulate a hypothesis about its mechanism.