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Declining Peak
Trend
Channel Flat Trend Channel
Sell Point
Rising Trend
Channel Declining
Buy Point Trend Buy Point
Trough
Trough Channel
Technical Trading Rules and Indicators
Technical trading rules used by analysts into four
sections based on the attitude by technical analysts.
1. Like to trade against the crowd using contrary opinion
signals.
2. Attempt to emulate astute investors that is smart money.
3. Technical indicators that are very popular but not easily
classified.
4. Covers pure price and volume techniques including
Dow Theory.
Contrary-Opinion
Many analysts rely on rules developed from the premise
that the majority of investors are wrong as the market
approaches peaks and troughs
Breadth of market
Advance-decline
Diffusion index
Short interest
Stocks above their 200-day moving average
Block uptick-downtick ratio
Stock Price and Volume Techniques
The Dow theory oldest technical trading rule
1. Major trends are like tides in the ocean
2. Intermediate trends resemble waves
3. Short-run movements are like ripples
Importance of volume
Ratio of upside-downside volume