Product Description

Economists have long insisted the market is "efficient" and "random," with no relationship between one move and the next. This logic suggests we can learn nothing from studying the stock market's past, and that its direction is impossible to forecast.

So you can imagine how millions of investors would feel if they could see the striking similarities between a recent price chart of the Dow Jones Industrial Average -- and one from over 70 years ago.

Robert Prechter illustrates this and more in his new book, Beautiful Pictures From the Gallery of Phinance. Chart after chart displays stunning relationships in both price and time that appear repeatedly over the decades -- and all according to a specific series of numbers called the Fibonacci sequence.

The vast web of market similarities Prechter exposes in Beautiful Pictures presents the opportunity to understand patterns. Those who take advantage of that opportunity will discover a thrilling new market perspective.

Product Details

• Amazon Sales Rank: #307272 in Books
• Published on: 2003-09-12
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 248 pages

About the Author
Founder and president of Elliott Wave International, Robert Prechter has been publishing market commentary since 1976. He began his career with the Merrill Lynch Market Analysis Department in New York. In 1984, Bob set a record in the options division of the U.S. Trading Championship with a real-money trading account. In December 1989, Financial News Network (now CNBC) named him "Guru of the Decade." Bob served for nine years on the Board of the Market Technicians Association and in 1990-1991 served as its president. During the 1990s, he expanded his firm to provide analysis for institutions on every major financial market in the world. Bob has written 13 books on finance, most notably the two-volume set, Socionomics – The Science of History and Social Prediction. His recent title, Conquer the Crash - You Can Survive and Prosper in a Deflationary Crash and Depression, was a New York Times and Wall Street Journal business best-seller. In 1999, Bob received the CSTA’s first annual A.J. Frost Memorial Award for Outstanding Contribution to the Development of Technical Analysis. In 2003, Traders Library granted him its Hall of Fame award.

Customer Reviews

Outstanding work
This book is exactly what the Elliott Wave and Socionomics community has been needing for a long time; Beautiful Pictures is a book completely dedicated to Fibonacci relationships in the market regarding time and price during the entire move from 1932 to the market top in 2000.
My only complaint with the book was that I wished the time span covered would've started farther back than 1932 or so. It would've been great to see the entire stock history of the 20th century charted in all its perfect Fibonacci splendor.
After reading this book, perhaps more people will realize that the market has a life of its own and follows the same patterns of growth and decay as nature.

Don't trust 1-star reviewer
The clear evident is Nasdaq Index which was the real deal of the tech bubble. We can see that eventhough Dow surpassed Y2K peak, but Nasdaq never did that or even S&P 500 went beyound its old high only by a little. DJ 30 has a flaw with its indexing method,which is lower cap stock with higher price can move index more than bigger cap stock with low price (look at GE, MSFT they never make it back to Y2000 peak). I think the 1-star reviewer here didn't read any book of Prechter at all.

Btw, information in this book provides very good examples for reader how elliott wave and fibonacci can be used to project the market and stock. Thanks.

Avoid this book, and any other book authored by Prechter
Prechters view is markets peaked in wave 5 in year 2000.
Never called the bottom in 2002, and stated the
high of year 2000 would not be surpassed.
Well 7 years later the DOW has indeed surpassed the year 2000 high!
High of 2000 was ~12000, today it is nearly ~14000 !!

Listening to his advice would cost one dearly.
Not only missing out on the recent market rise, but also constantly
pushing one to take a bearish stance against the market during the
entire rise over the past 5 years, while the market was rising!