Phi (2of3)

Consider when reading such deep yet vague descriptions that these people could not clearly see what they sensed. They did not have graphs and the Wave Principle to make nature's growth pattern manifest and were doing the best they could to describe an organizational principle that they discerned as shaping the natural world. If these ancient philosophers were right that a universal structural force governs and permeates the world, should it not govern and permeate the world of man? If forms throughout the universe, including man's body, brain and DNA, reflect the form of phi, might man's activities reflect it as well? If phi is the life-force in the universe, might it be the impulse behind the progress in man's productive capacity? If phi is a symbol of the creative function, might it govern the creative activity of man? If man's progress is based upon production and reproduction "in an endless series," is it not reasonable that such progress has the spiraling form of phi, and that this form is discernible in the movement of the valuation of his productive capacity, i.e., the stock market? Just as the initiated Egyptians learned the hidden truths of order and growth in the universe behind the apparent randomness and chaos (something that modern "chaos theory" has finally rediscovered in the 1980s), so the stock market, in our opinion, can be understood properly if it is taken for what it is rather than for what it crudely appears to be upon cursory consideration. The stock market is not a random, formless mess reacting to current news events but a remarkably precise recording of the formal structure of the progress of man.

Compare this concept with astronomer William Kingsland's words in The Great Pyramid in Fact and in Theory that Egyptian astronomy/astrology was a "profoundly esoteric science connected with the great cycles of man's evolution." The Wave Principle explains the great cycles of man's evolution and reveals how and why they unfold as they do. Moreover, it encompasses micro as well as macro scales, all of which are based upon a paradoxical principle of dynamism and variation within an unaltered form.

It is this form that gives structure and unity to the universe. Nothing in nature suggests that life is disorderly or formless. The word "universe" means "one order." If life has form, then we must not reject the probability that human progress, which is part of the reality of life, also has order and form. By extension, the stock market, which values man's productive enterprise, will have order and form as well. All technical approaches to understanding the stock market depend on the basic principle of order and form. Elliott's theory, however, goes beyond all others. It postulates that no matter how minute or how large the form, the basic design remains constant.

((9.2 Conceptual Phi, "Elliott Wave Lessons 10"))