Elves

DEFINITION of 'Elves'

A slang term for the technical analysts who appeared on the PBS television show "Wall Street Week", which aired from 1970 to 2005. The elves attempted to predict the direction of the market in the coming months, and gained popularity due to their inability to make accurate predictions.

BREAKING DOWN 'Elves'

The show's host, Louis Rukeyser, began referring to "Wall Street Week's" group of technical analysts as "elves", and called the group of technical indicators they used to forecast the market the "elves index". The market, though, seemed to always take the opposite direction of the elves index.

RELATED TERMS
  1. Main Street

    A colloquial term used to refer to individual investors, employees ...
  2. Take A Report

    A slang phrase signifying that an individual's trade order has ...
  3. Aussie

    Slang term that is used to refer to the Australian dollar.
  4. Forward Looking

    A business slang term for predictions about future business conditions. ...
  5. Yankee Market

    A slang term for the stock market in the United States. Yankee ...
  6. Confirmation On A Chart

    An indicator or chart pattern that provides evidence that the ...
Related Articles
  1. Investing

    Pivot Points

    Learn more about this technical indicator and how you can use it as a predictive tool.
  2. Taxes

    Presidential Candidates And Wall Street In 2016

    Wall Street's influence will play a large role in the 2016 presidential race. As election season begins, candidates are showing their true colors.
  3. Trading Strategies

    Profit Without Predicting The Market

    Traders who try to predict the future can actually harm their trading options.
  4. Professionals

    How To Get A Job On Wall Street

    Although Wall Street has its share of problems, finding people who want to become traders isn’t one of them.
  5. Professionals

    Making It Big On Wall Street

    Read about some of the most glamorous Wall Street jobs and what it takes to land one.
  6. Professionals

    Top 3 Misconceptions About Financial Analysts

    Learn misconceptions about financial analysts, such as they exclusively study the stock market, they are the same as financial advisors and they are all rich.
  7. Economics

    Understanding Forecasting

    Forecasting is the use of historical data to predict the future.
  8. Company's Predictability and Malleability

    When designing a strategy, strategists must consider their company's unique working environment. In their 2012 publication, "Your Strategy Needs a Strategy", authors M. Reeves, ...
  9. Personal Finance

    How To Land a Wall Street Job Out of College

    Getting a job on Wall Street right after college can be difficult, but there many paths that eventually lead to Wall Street.
  10. Economics

    Leading Economic Indicators Predict Market Trends

    Leading economic indicators show where the economy is headed. While there are many available, each one has flaws, so they must be considered together.
RELATED FAQS
  1. What are elves?

    Elves are used to describe the technical analysts that are guests of the PBS show Wall Street Week. The job of these technical ... Read Answer >>
  2. Where does the name "Wall Street" come from?

    As with many of the famous streets and roads in the world, Wall Street's origins have historical significance. Its name is ... Read Answer >>
  3. What does the saying "What's good for Wall Street is bad for Main Street" mean?

    Let's start by defining the terms "Wall Street" and "Main Street". Wall Street, in its broadest sense, refers to the financial ... Read Answer >>
  4. Where did the term "tenbagger" originate?

    On February 15, 1989, Peter Lynch's investing book, "One Up On Wall Street", made its debut. At the core of the book was ... Read Answer >>
  5. How do technical analysts predict bull markets?

    Dive into the methods and assumptions of technical analysis, and see how analysts go about trying to predict a bull market ... Read Answer >>
  6. Is technical analysis used only to analyze stocks?

    The simple answer to this question is definitely not. This form of analysis can be applied in more situations than you may ... Read Answer >>
Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  3. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  4. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  5. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  6. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
Trading Center