Fibonacci in the stock market
Presented is an excerpt from Robert Prechter's book, Beautiful Pictures. A completed Elliott wave usually displays Fibonacci price and time relationships among its components. It has long been maintained that wave V in the stock market, which began at the lows of 1974 or 1982, would end when it...
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| Published in: | Futures (Cedar Falls, Iowa) Vol. 32; no. 7; p. 40 |
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| Main Author: | |
| Format: | Magazine Article |
| Language: | English |
| Published: |
Chicago
Alpha Pages
01-06-2003
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| Subjects: | |
| Online Access: | Get full text |
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| Summary: | Presented is an excerpt from Robert Prechter's book, Beautiful Pictures. A completed Elliott wave usually displays Fibonacci price and time relationships among its components. It has long been maintained that wave V in the stock market, which began at the lows of 1974 or 1982, would end when it reached a Fibonacci relationship to the preceding wave structure dating from the Depression lows of 1932. The Dow Jones Industrial Average (DJIA), enjoying the greatest stock mania of all time, surged past several of these relationships along the way. That the advance from 1974/1982 is a fifth wave is important because there are several guidelines of wave development that indicate what the extent of a fifth wave is likely to be. Wave V is related not only to waves I-III but also to wave I, fulfilling the other measuring guideline as well. |
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| Bibliography: | content type line 24 ObjectType-Feature-1 SourceType-Magazines-1 |
| ISSN: | 0746-2468 |