R.N. Elliott's Discovery Foretells a Major Market Turn Still to Come

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Adversity often visits people just as their future seems brightest.

At the same time, other people learn that when one of life's doors closes, a window will open.

Both of these truisms describe the life of Ralph N. Elliott (1871-1948), the founder of the Wave Principle.

In the 1920s, Elliott became a successful business consultant. But his life of accomplishment and financial independence were in peril when he fell gravely ill.

During months of recuperation, Elliott occupied his mind with a meticulous study of the stock market.

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Through a long illness the writer had the opportunity to study the available information concerning stock market behavior. Gradually the wild, senseless and apparently uncontrollable changes in prices from year to year, from month to month, or from day to day, linked themselves into a law-abiding rhythmic pattern of waves. This pattern seems to repeat itself over and over again. With knowledge of this law or phenomenon (that I have called the Wave Principle), it is possible to measure and forecast the various trends and corrections (Minor, Intermediate, Major and even movements of still greater degree) that go to complete a great cycle.

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In the August 2012 Elliott Wave Theorist, subscribers receive a specific stock market overview through early 2013.
Indeed, EWI's timing tools appear pointed to the exact month of a major stock market turning point.
Two observations lead us to the same month for the last upside gasp in the stock market.