At least according to Robert Prechter, and his merry band of wave devotees. See Bob Prechter, in addition to thinking that waves affect markets, also believed that the same underlying dynamics affected pop culture, and that it all tied together mathematically. Hence, the Beatles coming to iTunes is a big deal.
Robert Prechter provides remarkable insights into these and many similar questions in his combined issue of The Elliott Wave Theorist, “Social Mood Regulates the Popularity of Stars — Case in Point: The Beatles.”
He explains that the unprecedented success of The Beatles flowed from “the ability of four young musicians to serve as a focal point for the expression of mass spontaneous joy and excitement that was already there.”
Prechter also puts the popularity of The Beatles in a context no one has ever explored before:
A brief history of the Beatles as it relates to our best sociometer – the stock market – should help elucidate the case for socionomic regulation of the popularity of famous people. The main general point of this review is to show that the radical shifts in the Beatles’ fortunes followed quite precisely the radical shifts in the stock market’s fortunes.
And the chart to, um, prove it:
So based on that, it should be very obvious which way the market is going to go next.
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