6.2
Individual Stocks
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Despite the above
detailed caveat, there are numerous examples of times when
individual stocks reflect the Wave Principle. The seven
individual stocks shown in Figures 6-1 through 6-7 show Elliott
Wave patterns representing three types of situations. The bull
markets for U.S. Steel, Dow Chemical and Medusa show five-wave
advances from their major bear market lows. Eastman Kodak and
Tandy show A-B-C bear markets into 1978. The charts of Kmart
(formerly Kresge) and Houston Oil and Minerals illustrate long
term "growth" type advances that trace out Elliott
patterns and break their long term supporting channel lines only
after completing satisfactory wave counts.
Figure 6-5
Figure 6-6
Figure 6-7
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