Robert Prechter

Robert Prechter

Robert Prechter has written 14 books on finance, beginning with Elliott Wave Principle in 1978, which predicted a 1920s-style stock market boom. His 2002 title, Conquer the Crash, predicted the 2007 crisis. Prechter’s latest interest is a new approach to social science, which he outlined in Socionomics—the Science of History and Social Prediction (1999-2003). In July 2007, The Journal of Behavioral Finance published “The Financial/Economic Dichotomy: A Socionomic Perspective,” a paper by Prechter and his colleague, Dr. Wayne Parker. Prechter has made presentations on his socionomic theory to the London School of Economics, Georgia Tech, MIT, SUNY and academic conferences. He is the CEO at Elliot Wave International, an independent group of market analysts. 

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We focus on the practical in this month’s newsletter. From trading psychology to trading tools and trading strategies, we have tried to provide you with new ideas that you can apply in the slow summer market. Of course, the slow summer market is probably a myth but we all need to find time to explore ideas and tools that might help us become better at what we do. Trading seems to be the point where theory meets practice in technical analysis. Hopefully you will find the techniques and tools we highlight to be useful. Although trading is often associated with short-term analysis, many traders analyze long-term data. In the long-term, stocks can move up or down just as they do in the short-term. SRC Stock Charts offer a long-term perspective on markets and we conclude this issue with a chart of Japan’s Nikkei 225 stock index. The Nikkei ended May with a one-week loss of 15% but is up about 50% in the last year. Shortterm volatility can mask the relentless down trend that defines that market. Over the past 25 years, the Nikkei has lost an average of 2.8% a year. Please email us with suggestions for other long-term charts to highlight the ups and downs of trading for a living. We can be reached at Michael Carr [post_title] => Technically Speaking, June 2013 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-june-2013 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:34:20 [post_modified_gmt] => 2020-08-03 15:34:20 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 390868 [post_id] => 45949 [meta_key] => newsletter_content_0_contributor [meta_value] => a:3:{i:0;s:4:"1890";i:1;s:3:"781";i:2;s:5:"33786";} ) [2] => stdClass Object ( [ID] => 46280 [post_author] => 2 [post_date] => 2012-12-15 12:00:37 [post_date_gmt] => 2012-12-15 17:00:37 [post_content] =>


This month, we are highlighting several examples of work that may be at the leading edge of technical analysis research. Robert Prechter, Jr., CMT, popularized Elliott Wave and is probably the individual most responsible for its worldwide popularity. He has continued studying wave patterns and extended that study to socionomics, a field he developed and discusses in this issue. In addition to demonstrating his personal brilliance, socionomics demonstrates how the knowledge gained in the study of technical analysis can be applied to other fields. A detailed example of socionomics, demonstrating the link between the public mood, stocks prices and Presidential elections, is also included and readers should consider downloading the full paper. Manuel Amunategui then offers an intriguing idea that addresses some of the problems created by 24-hour trading. In some markets, the open and close have become less significant but the technique Manuel presents could help redefine price charts in these markets. December marks the end of the year and an end to a special discount price available for the Annual Symposium. The speakers, including Robert Prechter who will be sharing his latest work, promise to deliver value to any trader and analyst. Please tell us what you think about the newsletter with an email to Sincerely, Michael Carr [post_title] => Technically Speaking, December 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2012 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:34:34 [post_modified_gmt] => 2020-08-03 15:34:34 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 396009 [post_id] => 46280 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:4:"1890";} ) [3] => stdClass Object ( [ID] => 48587 [post_author] => 2 [post_date] => 2007-11-15 12:00:01 [post_date_gmt] => 2007-11-15 17:00:01 [post_content] =>

From the Nominating Committee

Dear Members, Honorary Members and Emeritus Members, Every year, the Nominations Committee chooses the slate for the Board of Directors that everyone eventually votes on at our MTA Annual Meeting (next Annual meeting in May-June, 2008). While thanking previously members who have served, the Committee is now totally open and I therefore need to hear from Members, Honorary Members and Emeritus Members who would like to serve on this important committee. It is not too cumbersome a job but it is a key one since you will chose potential Board members that ultimately drive and lead the MTA in the future. For a more detailed explanation of the MTA Nominating Committee and its processes, please refer to the MTA By-Laws, Section BL 7.02 E. (Can be found in the “Mission” Section of our web-site). I encourage all Members to apply, especially those Members outside the USA. I would really like to see this Committee reflect the diversity of the MTA membership. Would all those interested please drop me an email with a very brief explanation of why you would like to serve and just a little about your background. Please contact me at Thank you, Jordan Kotick, CMT Nominating Committee Chair & Board Member [post_title] => Technically Speaking, November 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-25 17:44:46 [post_modified_gmt] => 2020-03-25 21:44:46 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 441431 [post_id] => 48587 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:4:"1890";} ) [4] => stdClass Object ( [ID] => 48627 [post_author] => 2 [post_date] => 2007-08-15 12:00:38 [post_date_gmt] => 2007-08-15 16:00:38 [post_content] => * Due to time sensitive submissions there will not be a letter from the Executive Director or Editor this month. * [post_title] => Technically Speaking, August 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-august-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-26 12:15:09 [post_modified_gmt] => 2020-03-26 16:15:09 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 442358 [post_id] => 48627 [meta_key] => newsletter_content_3_contributor [meta_value] => a:3:{i:0;s:4:"1559";i:1;s:4:"1890";i:2;s:4:"2105";} ) [5] => stdClass Object ( [ID] => 52524 [post_author] => 2 [post_date] => 2005-02-15 12:00:44 [post_date_gmt] => 2005-02-15 17:00:44 [post_content] =>

From the Editor’s Desk

Last month’s newsletter included an article by William Sarubbi, MBA, CMT entitled, “First-ofthe-Month Bias Continued.” This short research piece updated some work originally done by Arthur Merrill, CMT. Shortly after that issue was sent to the publisher, Arthur Merrill passed away. We are fortunate that he left us with a lifetime of work to update, and due to the statistical rigor he applied to indicators, we should expect to find that his work is just as valid today as it was when he undertook his efforts. In this month’s newsletter, we present some  insight to the great life Arthur lived. Next month, we hope to be able to publish a very small amount of his original work. Arthur tested more ideas than most of us will have in our lifetimes. Robert Colby, CMT, is an authority on indicators, having written an extremely detailed book on the subject, The Encyclopedia of Technical Market Indicators. In that book, Arthur Merrill is cited 23 times in the index, more than twice as often as any other individual, and second only to Ned Davis Research, an entire company dedicated to market research. We also have a summary of the recent brainstorming session in San Diego and a biography of Garfield Drew along with examples of several indicators and their applications to the stock market. We hope you enjoy this issue. Cordially, Mike Carr, CMT Technically Speaking Editor [post_title] => Technically Speaking, February, 2005 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-february-2005 [to_ping] => [pinged] => [post_modified] => 2020-08-17 13:06:47 [post_modified_gmt] => 2020-08-17 17:06:47 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 548406 [post_id] => 52524 [meta_key] => newsletter_content_2_contributor [meta_value] => a:4:{i:0;s:5:"46127";i:1;s:4:"1890";i:2;s:5:"47835";i:3;s:5:"50342";} ) )