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Those who think markets are random might consult a
facinating book by Arthur T. Winfree titled The
Geometry of Biological Time (NY 2001). Winfree's
path-breaking work deals with cyclic patterns in
hundreds of biological phenomena. Market oscellations
are reflections of human psychology, and fall in the
same category as biologic patterns in my opinion.
Winfree did not extend his work into mass psychology
but others have. Drummond and Hearne (The Lessons,
1997-20001) have an excellent presentation of this,
building on and extending Drummond's work in
multi-timeframe market analysis. M Glading in Tipping
Point has a small handle on this, and there are
others.
The Noble-prize types in chaos studies at the Sante Fe
Institute and other academic think tanks have a piece
of the idea, though they have not advanced as far as
Drummond, albiet the academics talk in more
conventional language.
Let's think outside the box, guys.
Richard Snowden
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"Trading is a way of walking, not a way of talking."
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