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Strategies & Market Trends : Elliott Wave Theory

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To: Vendit™ who wrote (3)	12/6/2000 2:05:24 PM
From: David W. Taylor	Read Replies (1) of 43

Vendit, you are quite correct the start of waves is subjective. Thanks for responding to my first ever conference! Bob Prechter in his classic book "Elliott Wave Principle" documents the start of ALL stock market waves in the USA as 1789, which is when the first data begins. Commodity prices start in 1760 but all his charts show the start of Grand Supercycle wave 1 in 1789. Grand Supercycle wave 5 is marked as starting in 1932 as you state. Prechter dates the start of Cycle wave V to 1974, which disagrees with the October 1987 date that you suggest. The confusion may be that "Elliott Wave Principle" was first published in 1978 with an appendix adding a forecast for 1982-1983. In the more recent book "At the Crest of the Tidal Wave", Prechter publishes on page 40 figure 2-9 a more recent count that shows the low in 1987 to be the start or wave 4 circled. Wave 5 circled is shown in the latest Elliott Wave Theorist publications to coincide with Grand Supercycle wave V. This is the point that provide the most debate. Prechter and EWI maintain that ending of all the degrees of Grand Supercycle V on January 14, 2000 when the Dow hit 11,889. Could this be the start of the long trip downwards?

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