Original sentence: Prechter has been considered the foremost Elliott Wave analyst for years, critics have focused on the stock market forecasts he published in the 1990s.Prechter missed the run-up in the U.They say that by calling for a major bearish reversal, Mr.While Mr.equities during that decade
Edited sentence: But the notion that the market can be consistently effectively predicted, or "timed," remains a will-o'-the-wisp in the minds of many experts and observers.For many market observers, Prechter and the theory on which his expertise was based lost a measure of credibility.It is often said by wags that if anyone had a magic black box enabling the market's movements to be effectively called, he probably wouldn't need to sell a newsletter.One problem for him in adhering to his Elliott Wave theory is that it posits a dramatic decline in the final "Wave C" of the pattern.Prechter has worn the mantle of Elliott Wave expert for a few decades now, his market predictions over the past two decades have been of questionable merit.So while Prechter garnered great acclaim for calling upward movements based on Fibonacci numerical series cycling up, he also then later predicted dramatic, nearly terminal-sounding, declines in U.The Elliott Wave Theory holds that the market follows repeatable patterns based on the classic Fibonacci number series, and that one can effectively time it by following visual patterns.Thus, while Mr.Today, he seems a near afterthought, while market-timing itself has been largely discredited.equity markets that never materialized