Elliott Wave Principle came out in November 1978, with the Dow at 790.
While this book was immediately regarded by reviewers as the definitive textbook
on the Wave Principle, it handily missed the bestseller list by several hundred
thousand copies. Nevertheless, due to the spiraling interest in its fascinating
content and the continuing success of its long range forecast,
Elliott Wave Principle has sold more copies every year, and has now achieved the
status of a Wall Street classic.
In this newly expanded edition, every word involving expectations for the future
has been kept intact as it originally appeared In that regard, the book remains
precisely in its original 1978 form to allow new readers to investigate both the
successes and errors in the forecast presented by Frost and Prechter those many
years
ago. In referring to that forecast in a 1989 article, investment analyst James
W. Cowan said, "Even allowing for minor stumbles, that 1978 prediction must go
down as the most remarkable stock
market prediction of all time." That decisive reaction came as a result of the
market's path only up to that time. It remains to be seen whether the final
stage of the book's forecast, "three or four years of chaotic conditions in the
economy and the markets," given twelve years ago in Chapter 8, will occur. The
authors, to
be sure, stick by their scenario.
This expanded 1990 edition features this publisher's note, an enhanced text in
several chapters, an appendix on the Wave Principle's fractal nature, and a
market forecast update for the 1990s. Otherwise, like the Wave Principle itself,
this book has stood the test of time.
Part 1: Elliott Theory
Chapter One: The Broad Concept including, *Basic Tenets *Terminology and
Labeling * Impulse Waves and Variations *Corrective Waves *Zigzags * Flats *
Triangles * Double and Triple Threes * Diagonal Triangle Type 2
Chapter Two: Associated Rules and Guidelines * Counting Rules *
Alternation * Depth of Corrective Waves * Wave Equality * Charting the Waves *
Channeling * Volume * The Right Look * Wave Personality * Learning the Basics *
Applying the Basics
Chapter Three: Historical and Mathematical Background of the Wave
Principle * Leonardo Fibonacci da Pisa * the Fibonacci Sequence * The Golden
Section * The Golden Rectangle * The Golden Spiral * The Meaning of Phi
Part Two: Elliott Applied
Chapter Four: Ratio Analysis and Fibonacci Time Sequences *Ratio Analysis
* Time Sequences * Benner's theory
Chapter Five: Long Term Waves and an Up-to-Date Composite * The
Millennium Wave from the Dark Ages * The Grand Supercycle from 1789 * The
Supercycle from 1932
Chapter Six: Stocks and Commodities *Individual Stocks * Commodities *
Gold
Chapter Seven: Other Approaches to the Stock Market and Their
Relationship to the Wave Principle * Dow Theory * The Kondratieff Wave Cycle *
Cycles * News * Random Walk theory * Technical Analysis * Economic Analysis
Chapter Eight: Elliott Speaks * The Next Ten Years * Nature's Law
