1. The Dow theory was developed by Charles Dow and his theory has been tested by time for more than 100 years and it is valid today also as Dow and Hamilton aimed at identifying primary trend and thus be able to make profits and the theory is based on emotions which leads to fluctuations in market.
3. Dow theory is regarding analysis of market price action.
4. S.A. Nelson and William Hamilton are credited with refinement of theory.
5. Dow theory describes primary movements as a movement which extends from few months to many years, secondary movements extends for a duration ranging from few weeks to a few months and generally moves counter to prevailing primary trend and daily fluctuations generally lasts few hours to a few days and is generally restricted with in a limit and same can move in tandem with primary trend or against it.
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