A 1930 discovery changed the way people looked at markets 
American accountant Ralph Nelson Elliott was forced into early retirement due to an ailment and decided to study the behaviour of the stock market to occupy his time.
After studying 75 years of stock market behavior, he found out that the market follows a particular pattern of waves, which was predictable.
And after the Dow Jones had declined throughout early 1935, and people had the 1929-32 crash fresh in their minds, Elliott stated that as per his theory, “All averages are making final bottom”.
And soon after, the 13-month-long correction was over, with the market immediately turned to the upside 
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