Elves is a slang term that Luis Rukeyser, long-time host of the weekly PBS television show "Wall Street Week," gave to the 10 technical analysts who appeared regularly on the program. The elves were frequent guests from the show's premiere on Nov. 20, 1970, until immediately after the terror attacks of Sept. 11, 2001. 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.


The elves' predictions on Wall Street Week, which ran every Friday night, were based purely on their technical analysis, rather than economic fundamentals, and were rarely correct. Their views were combined into the Elves Index, which host Luis Rukeyser showed to viewers on each week's broadcast. The index was widely considered a contrarian indicator. It was deeply negative in the immediate aftermath of the September 11 terror attacks; Rukeyser discontinued both the elves and the index at that point. Fox News revived Wall Street Week in 2015 but did not bring back the elves.


Wall Street Week was created by producer Anne Truax Darlington for Maryland Public Broadcasting, which is part of PBS. Darlington recruited Luis Rukeyser to host the show, which premiered on just 11 stations of the Eastern Educational Television Network. EETN is now known as American Public Television, and it is the oldest distributor of public television programming in the United States. Wall Street Week quickly became one of the most popular programs on the then-new PBS network. At the height of the show's popularity, it ran on over 300 stations and had a weekly viewership of more than 4.1 million.

Luis Rukeyser

Wall Street Week host Luis Rukeyser was a graduate of Princeton University who worked as a correspondent for the Baltimore Sun newspaper and ABC television before his hosting duties. He notably did not quit his job as an economic correspondent for ABC until Wall Street Week had been running for more than two years, because he was not confident that it would be a success.

Rukeyser was known for frequently using puns in his broadcasts. He routinely asked his guests to view the audience as intelligent people who were not experts in either economics or the financial markets. He hosted Wall Street Week on PBS until 2002, at which time the producers decided to replace him with a younger host. They renamed the show Wall Street Week with Fortune, named for Fortune magazine, but it never had the same success. and was cancelled in June 2005. Rukeyser went on to host Louis Rukeyser's Wall Street on CNBC for several years but left in 2003 for medical reasons. He died of bone cancer in May 2006.

  1. Main Street

    A colloquial term used to refer to individual investors, employees ...
  2. Wall Street

    1. A street in lower Manhattan that is the original home of the ...
  3. Social Host Liability

    A legal term and area of law that deals with the liability of ...
  4. Bay Street

    A street in Toronto, Canada that is home to several major banks, ...
  5. Wall Of Worry

    The financial markets' periodic tendency to surmount a host of ...
  6. Tech Street

    A term used in the financial markets and the press to refer to ...
Related Articles
  1. Personal Finance

    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.
  2. 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.
  3. Managing Wealth

    Making It Big On Wall Street

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

    Pre-Merger Earnings Expectations For Rite Aid, Walgreens And Bed Bath & Beyond

    Two merging drug store giants are scheduled to share their latest earnings reports this week. Wall Street consensus forecasts see earnings growth from just one of them. A domestics superstore ...
  5. Markets

    Big Banks In The Spotlight As New Earnings Season Begins

    The first-quarter earnings reporting season kicks off this week. Among the first companies to share their results will be the big U.S. banks. Wall Street analysts are looking for shrinking earnings ...
  6. Trading

    Choosing An Advisor: Wall Street Vs. Main Street

    A high-profile brand name alone won't meet your personal investing needs. This article will show you what else to look for.
  7. Managing Wealth

    Is 21st Century Fox a Sly Bet?

    An in depth look at the revenue streams of international media conglomerate Twenty-First Century Fox.
  8. Personal Finance

    Is Airbnb Safe? What You Need To Know

    Thinking of booking a room or listing your home on Airbnb? Get up to speed on safety features for both guests and hosts.
  9. Financial Advisor

    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.
  10. Markets

    Morgan Stanley Introduces Four Weeks of Paid Vacation

    In the wake of falling bonus pools and loss of top talent to Silicon Valley, one of Wall Street's biggest names is introducing a paid four-week sabbatical.
  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 is something "brought over the wall" in an investment bank?

    An analyst who lends his or her expertise to an underwriting department is said to have been "brought over the wall". In ... Read Answer >>
  6. Who owns Dow Jones & Company?

    Learn how the purchase of Dow Jones & Company by News Corp. included the acquisition of The Wall Street Journal, Barron's ... Read Answer >>
Hot Definitions
  1. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  2. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  3. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  4. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  5. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
  6. Russell 3000 Index

    A market capitalization weighted equity index maintained by the Russell Investment Group that seeks to be a benchmark of ...
Trading Center