Editing Wall Street Week (section)

===Wall Street Week Index===
During its run, the show used two different indexes to predict future market trends:

From 1970 to 1989, the show used the Wall Street Week Index (later known as the WSW Technical Market Index), a composed financial index developed by [[Robert Nurock]]. The analysis consisted of ten separate technical [[Technical indicator|indicators]], each of which was assigned a value of either +1 (indicating a [[bullish]] trend), -1 (for a [[bearish]] trend, or 0 (neutral)). A net balance of +5 (or higher) was interpreted as a buy signal, while a reading of -5 (or lower) was a sell signal. Rukeyser irreverently named the index "The Elves" (a reference to the term ''[[Gnomes of Zurich]]''), and dubbed Nurock the "Chief Elf." After being in neutral for a considerable period of time, Rukeyser requested significant changes in the makeup of the index.  Nurock refused since he believed his ten indicators were still the best way to judge the technical aspects of the market.  This ended Nurock's association with the show and the Index was replaced.

Used from 1989 to the end of the Rukeyser era, the Elves Index was also a reading of ten indicators scored in the same manner as the Wall Street Week Index. Instead of reflecting technical factors, the indicators now represented the personal sentiment of ten market analysts about the direction of the market over the next three months. The Elves Index had more volatility and gave more buy and sell signals than the old Wall Street Week Index, but was not as highly regarded. In 1998, one magazine even suggested the Elves Index was more useful as a [[contrarian]] tool, citing three examples where buy signals were followed by periods of market drift or contraction.{{citation needed|date=June 2012}} Later, Rukeyser added an Elves Index for the NASDAQ. This index had one of the worst predictive records of any public index.{{citation needed|date=June 2012}}

The indexes were "retired" by Rukeyser after the [[September 11, 2001 attacks]]. At that point, the indexes were signalling a very strong sell signal. However, as was usually the case, it was an excellent time to do the opposite as the market rallied significantly after the initial selloff.