Now What—Long-Term Harmonic Projections

Elliott Wave Principle by Alfred Frost and Robert Prechter was a revolutionary technical book for its time. In addition to integrating price structures with Fibonacci ratios and outlining precise wave counts, the book presented some remarkable future projections for the markets. The book was written during a period of time when the markets were still languishing in an extended long-term sideways range. After crashing in 1974, the markets experienced a volatile few years, as equities failed to recover. Despite the unfavorable conditions of their time, Frost and Prechter presented some bold predictions for the next decade. At the very end of the book (in their third edition), they called for an all-time target of 4000 on the Dow Jones Industrial Average by 1990. ....188