Ralph Nelson Elliott (1871-1948) was an accountant and business executive with railroad companies in Mexico and Central America. A serious physical malady, possibly anemia left him bedridden and forced into retirement in 1929. As a distraction, Elliott turned to study the stock market and the historical price movement of the Dow Jones Industrial Average.
Elliott incorporated Charles Dow’s discoveries also observing that patterns of the financial markets reflect cycles of human optimism and pessimism.
See also: Benoit Mandelbrot