By Jack Schannep
Dow idea for the twenty first Century comprises every little thing that the intense investor must find out about the inventory marketplace and the way to turn into financially profitable. increasing upon Charles Dow's twentieth century inventory industry idea, writer Jack Schannep presents readers with a greater figuring out of the parts that make up the area of finance, particularly the yank inventory industry, which will aid them in achieving funding luck.
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Extra info for Dow Theory for the 21st Century: Technical Indicators for Improving Your Investment Results
Indd 18 Market lows. Bounce. Pullback (hold above the lows). Break up (above the bounce high). 1 represents how the Dow Jones Industrial Average and the Transportation Average might look. The patterns on this and the following charts shown for each Average are interchangeable; that is to say, the Industrial could follow the course shown for the Transports, and vice versa. Examples can be found in Appendix A, where you will find B-1 type signals in 1922, 1933, and so on, and most recently in 2003.
Don’t get the impression that the Dow Theory catches most recessions and all bear markets because it is under a sell signal most of the time. Actually it has been in a buy mode for 63 percent of the time since 1900. 6 shows what an excellent job it has done. The Dow Theory buy signals have preceded/confirmed and/or reconfirmed all business expansions and bull markets during the twentieth century. Can there be any doubt that the theory will not do the same in the twenty-first century? Despite this excellent, but of course not perfect, past history and documented record, there still exists a good bit of give-and-take about the Dow Theory, as we shall soon see.
Com) for the data recapitulated here. At that URL, a very enlightening exposition of the Theory and its record may be found—much more complete than that which is found here. Minor discrepancies are noted within these and others’ data, a point which will be raised by purists. This is occasioned by disagreements within the priestly circles of those who keep the sacred records. That is, not all theorists are in 100% agreement as to the exact date or nature of the signals. ) Meaning, of course, that some judgment is involved in interpretation of the entrails.