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Strategies & Market Trends : Waiting for the big Kahuna

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To: Paul Shread who wrote (34812)	12/2/1998 5:59:00 PM
From: bearshark	Read Replies (2) of 94695

Paul: Dow Theory is a set of basic market rules or tenets. Some of the rules are that there are three major trends in a market move, there are generally three phases in a bull and bear market, the confirmation of the TRAN and INDU, the market knows all, volume goes with the trend, only closing prices are used in its calculation, etc. It is the father of market theory and it is what R. N. Elliot used as the start for his theory as he rocked himself on his porch. Moving averages have no place in Dow Theory.

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