Archive for the ‘Syndicated’ Category
21st Century Use of the Charles Dow Theory, Part 4
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In Part 3 of this series, we focused on the second tenet of Dow Theory: the market has three trends. In Part 4 we are going to zero in on the trend a bit more and focus on the third tenet: major trends have 3 phases.
As a quick refresher, the 6 tenets of Dow Theory are:
1. The price discounts everything.
2. The market has 3 trends.
3. Major trends have 3 phases.
4. The averages must confirm each other.
5. Volume must confirm the trend.
6. A trend is assumed to be in effect until it gives definite signals that it has reversed. Read the rest of this entry »
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