Elliott wave theory
noun[S]
ECONOMICS,STOCK MARKETukusthetheorythatstockmarketpricesmoveup and down in aregularway, making itpossibleforinvestorstoknowwhichdirectionthey willmovebefore ithappens:
Prechter is apioneerof Elliott Wave Theory, astatisticalanalysistoolthat is used topredict, among other things, thedirectionofmarkets.