Ralph Nelson Elliott (Jul. 28, 1871 - 1948) was born in Marysville, Kansas. Elliot was an accountant and business executive with railroad companies in Mexico and Central America. He married Mary Elizabeth Fitzpatrick (1869–1941) in 1903. |
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A serious physical malady, possibly anemia left him bedridden and forced into retirement in 1929. As a distraction, Elliott turned to study the stock market and the historical price movement of the Dow Jones Industrial Average. Elliott incorporated Charles Dow's discoveries also observing that patterns of the financial markets reflect cycles of human optimism and pessimism. The developed the Elliott wave theory, which is based on Fibonacci numbers and is used to describe market trends in the stock market.
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