A commodity price cycle identified by Samuel Benner in the 19th century. Shows recurring patterns of highs and lows at irregular but predictable intervals.
Description
Samuel Benner was an American farmer who published his observations on commodity price cycles in 1875. He identified recurring patterns of market highs and lows that occurred at intervals of 8–9–10 years (for highs) and 16–18–20 years (for lows). Elliott saw this as additional evidence of natural wave patterns in markets.
Key Points
- Benner identified recurring market high intervals: 8, 9, 10 years (rotating)
- Recurring market low intervals: 16, 18, 20 years (rotating)
- Based on pig iron and agricultural commodity price data
- Elliott saw Benner’s cycles as supporting evidence for the natural wave structure
- The cycles align broadly with Elliott’s Cycle and Primary degree waves
