In the 1930s Ralph Nelson Elliott identified repeating patterns in stock market, which he termed "waves". Robert R. Prechter Jr. linked the psychological basis of waves to humans` unconscious impulse to herd and observed that social mood governs not only finance but also areas as diverse as popular culture, economic production, electoral politics and war. He has proposed a new field called socionomics - the science of history and social prediction.
Wojtek Luciejewski,
