Any object vibrating will produce a wave as a function of time. That is to say, all vibration produces a wave form . . . momentum up . . . momentum down. Price vibration in the market produces a consistent wave with a wavelength (period) of 26.

While it could be argued by some that the wavelength of market vibration is 27, this is actually a moot point since in real-world application the wave ranges on average from slightly less than 26 to slightly more than 26. The pertinent point is that no matter how you formulate the underlying wave generated by price vibration . . . the wavelength comes out to be 26. Consequently, **this simple fact will serve to reveal the Phi structure so ubiquitous in vibration**. [. . . Next]