Most good stories start with a fundamental list of ingredients: the initial situation, conflict, complication, climax, suspense, denouement, and conclusion. Great writers sometimes shake up the recipe and add some spice.
Exposition
Happy Birthday, Old One
It's Will's eleventh birthday, but instead of celebrating getting closer to official teenagedom, he finds out that he's actually an Old One. Thing is, we're actually not talking about his age—Will has secret powers to defeat the Dark. At first the guy's a little confused, but then he learns as much as he can about his new powers and practices using them, figuring he doesn't really have any other choice. This is the exposition phase because it kicks the whole story off. Without learning he has secret magical powers, Will would have nothing to quest for except cake.
Rising Action
Who's Afraid of the Dark?
Will was up for the magic, but he isn't so sure he wants to go head-to-head with the Dark (can't say we blame him). Trouble is, Will doesn't have a choice. Before long, the Dark comes knocking at his door—literally. When the Rider shows up at Will's house, Will figures out that it doesn't really matter what he wants, he's going to have to battle the Dark whether he likes it or not. It really puts a dent in his plans to lay low, which is why we're labeling this the complication.
Climax
Bring it, Rider
Once Will's sister is kidnapped by the Rider, he doesn't need any more convincing to take up the fight—which in this case means gathering the Signs. Will knows he's the only one who can save his sis from the bad guy, so he makes a deal with the creep. Even though this isn't the best plan, Will risks his own neck to save his sister's life. (Aww.) It's the climax because it's the first time Will and the Rider come face-to-face to duke it out. They've met before, but it's always been in front of Will's family or out on the streets. Now it's time for them to show each other what they're made of, magic-wise.
Falling Action
Hunter vs. Rider
As soon as Will gives the Hunter, who is one mysterious dude, his carnival mask, we know it's over for the Rider. In fact, it almost seems like the Rider knows it, too, because the battle doesn't last that long. This is our falling action because things are starting to settle down. Merriman makes it clear that the Hunter's power is the direct result of all of Will's work collecting the Signs (so mission accomplished for Will), and there's little left to do but wait for the fight to finish—which is exactly what Will does.
Resolution
I Saw the Sign (or Six)
Will has successfully collected all six Signs and defeated the Dark, so all the Old Ones get together for a party. Will's over the moon about his success, but he's also a little bummed that he's done with his quest. While he was reluctant to begin it at first, he came to like the time-traveling hunt for ancient artifacts. We definitely get a resolution to the quest, but Will feels like he wants to go on another mission again soon… when the time is right… which we suspect is in the next book in the series.