An Overview In Elliott Terms by Mark Thompson
ARTICLE SYNOPSIS ...An Overview In Elliott Terms by Mark Thompson
I began to plot a chart in January 1987 in an effort to discover exactly where the stock market would peak. Basically, I agreed with Robert Prechter's long-term wave counts. But to my surprise I came to a conclusion different from other Elliott wave analysts. The 1929 peak in the market was the top of Grand Super Cycle I and 1990 will see the peak of Grand Super Cycle III, according to my analysis.
The chart I constructed includes the Axe-Houghton Industrial Average from 1855 to 1932, and from 1932 to 1989 I spliced in the Dow Jones Industrial Av...