Beautiful Pictures from the Gallery of Phinance
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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.
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