This paper examines the core methodologies presented in Glenn Neely’s Mastering Elliott Wave (1990), which refines R.N. Elliott’s original wave principle. Neely introduces “NeoWave”—a stringent set of rules for wave labeling, retracement logic, and time symmetry. The paper highlights Neely’s contributions, including the “Monowave,” “Polywave,” and “Rule of Alternation” applied to time. Practical applications, common criticisms, and comparison with classical Elliott Wave are discussed.
In classical Elliott, alternation applies to corrective wave patterns (e.g., if wave 2 is sharp, wave 4 is flat). Neely extends alternation to : if wave 2 took 5 days, wave 4 should take a significantly different time (e.g., 2 days or 13 days). mastering elliott wave by glenn neelypdf top