[Jeffmet3]

Can someone explain the fascination with this?

You make graphs fit into the waves, and the experts are often wrong and then re-adjust on the timing of transition periods.

In addition, seeing that investor feelings towards the stock market correlates with it's performance appears to be pretty obvious.

This seems like the ultimate way of being results oriented, but a lot of big-time industry execs vouch for it, so I'm curious if anyone can explain why?