Please note that Armstrong's theories on how the minor but not major trends are manipulated are just plagiarized from Dow theory, presented by Charles Dow who, in part, created the Dow Jones Industrial Average index.
In addition, anyone who has read a Socrates report knows how it says that an important high/low was made and a move exceeding that is needed to continue- the successive peaks and valleys is also a major part of Dow theory.
Even the idea of movement within 3 timeframe units is part of Dow theory.
Interesting.
I also wonder if MA plagiarised some of what is featured in this book here:
https://www.amazon.co.uk/Economic-Periphery-International-Perspectives-Administration/dp/3319412604Curiously, the authors of this book (I have a copy) use the specific phrase, but in an earlier paper of theirs:
Phase transition.Grinin, L. E., & Korotayev, A. V. (2009).
Social macroevolution: Growth of the world system integrity and a system of phase transitions.Not sure if that is standard nomenclature in economics, but if it isn't, then who coined the phrase first?