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Who is father of stock market technical analysis?

Posted By On 8/01/2008 12:32:00 AM Under
1. Charles Dow can be considered as the father of technical analysis and he was the first editor of the Wall Street Journal.

2. Charles Dow was able to use the data of top blue chip stocks to make industrial average and also made transport average by using data of rail road stocks.

3. Charles Dow was of the opinion that the stock market reflected fears and hopes of people and same is followed woridwide.

4. Market fluctuates in more than one time frame at the same time and one can say that share market has three well defined movements which fit into each other and same is listed below:

(a) Local hopes and fear causes daily variation in stock.
(b) 10-60 days price movement is called as secondary movement.
(c) Bigger movement is covering of a period ranging from 4-6 years.

4. One can call a bull market as a market which can last several years and is characterised by up move in market. This may be interrupted by secondary downtrends and viceversa is true for down trend. It is important to note that secondary movements normally retrace from one third to two thirds of the primary trend since the previous secondary movement.

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