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The foundation of NEoWave began in 1980 with early research into Elliott Wave Theory by Glenn Neely, a financial analyst and author. Through years of study and real-world market analysis, he developed new patterns, rules, and structural concepts designed to make wave interpretation more objective, consistent, and reliable.
In 1983, NEoWave, Inc. was founded by Neely to formalize and teach this advanced methodology to traders and analysts worldwide. The approach introduced a more scientific and rules-based framework that reduces subjectivity in traditional wave analysis.
These concepts were later presented in the books Elliott Waves in Motion (1988) and Mastering Elliott Wave (1990), which outlines a step-by-step methodology for applying these concepts in real market conditions.
The name NEoWave reflects the evolution of traditional Elliott Wave Theory into a more structured and expanded form.
As described by the author of the book Mastering Elliott Wave:
"I titled Chapter 6 of my book 'Neely Extensions of Elliott Wave Theory' because this is where I began creating new concepts to make Wave analysis more logical, objective, and scientific. After writing the book, I decided to call my business and methodology 'NEoWave,' a shortened version of 'Neely Extensions of Wave Theory.' That's why the N and E are capitalized."
In addition to advancing market forecasting, a practical trading approach known as the NEELY RIVER Trading methodology, along with supporting software, was developed by the founder of NEoWave.
This approach is based on the idea that markets behave like flowing environments. Instead of trying to control outcomes, traders focus on managing risk and responding to current conditions. The methodology emphasizes capital preservation, disciplined decision-making, and strategies to objectively enter a market and exit at a profit.
As Glenn Neely explains:
"A river eventually flows to the ocean ... you will eventually reach your destination. When in the river, you don't manage the environment, you manage the boat. NEELY RIVER is about what you must do right now to survive – and profit – until the market runs its course and arrives at its destination."
This proven approach to trading, along with NRT software, guides traders to create lower-risk trading strategies with an emphasis on capital preservation, unemotionally cutting your losses quickly, and letting your profits run.
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