By Leigh Stevens
An creation to Technical research from one of many best Names within the Business
"Essential Technical research is a hugely valued source for technical investors. the significance of accomplished and well-researched marketplace behaviors, signs, and structures have been good expressed graphically with many examples. No technical analyst might be with no this e-book. Stevens's booklet may develop into one other classic."
-Suri Duddella, President of siXer.cOm, inc. (Forbes magazine's "Best of the net" in Technical research Category)
"Essential Technical research will supply the hot scholar of technical research an excellent assessment of either classical chart styles and a myriad of technical signs, yet so will many different texts. What units this quantity aside is that it provides the topic within the context of real-world buying and selling events, now not idealized well-chosen examples. Books on technical research, particularly these geared toward beginners, are usually jam-packed with charts within which the chosen styles are either unambiguous and paintings completely. As Leigh Stevens acknowledges and confronts, besides the fact that, the true international is a much more sloppy position: charts may perhaps frequently include conflicting signs, and styles do not consistently paintings as defined. interpreting crucial Technical research is like sitting beside a veteran technical analyst and having him describe his tools and industry experiences."
-Jack Schwager, writer of industry Wizards, inventory industry Wizards, and Schwager on Futures
"Leigh Stevens's intensity of expertise, obtained over a long time, has generated a deep knowing of, and dedication to, the self-discipline of technical research. he's additionally a kind of infrequent people who have either the facility to express the essence of his principles in a perfectly uncomplicated and simple method and during using own anecdotes and reports. There usually are not many folks round who can either stroll the stroll and speak the talk."
-Tony Plummer, writer of Forecasting monetary Markets, Director of Rhombus examine Ltd., and previous Director of Hambros financial institution Ltd. and Hambros funding administration PLC
"Leigh Stevens brings his significant years of expertise to this undertaking. He has crafted a real-world publication on technical research that provides you the advantage of his trials and mistakes in addition to one hundred twenty years of observations and industry knowledge from Charles Dow to the most recent signs and techniques. traders who suffered from the bursting of the know-how bubble in 1999 and 2000 may still learn crucial Technical research from hide to hide and learn how to follow the teachings to the following marketplace cycle."
-Bruce M. Kamich, CMT, earlier President of the marketplace Technicians organization and Adjunct Professor of Finance at Rutgers college and Baruch collage
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Additional info for Essential Technical Analysis: Tools and Techniques to Spot Market Trends
The bursting Nasdaq bubble is our most recent lesson to look beyond the obvious—up until March 2000, as Nasdaq stock values rose to astronomical heights, the obvious accepted truth was that the new Information and Internet Age was going to change everything. We no longer had to use the old valuation models that deﬁned normal price to SUMMARY 17 earnings ratios. com technical analysis columns who held on during the steep downturn—not many said they blamed the analysts and market commentators who gave only buy recommendations.
In the prior 20 years the S&P Index had gained only 55 percent. 1 tells the story for the market after August 1982, using the S&P 500 Index, which comprises the stocks forming the core mutual fund holdings in the United States. From mid-February, around the time of Lindsay’s public prediction, the market declined approximately 8 percent from the mid-February peak into mid-August. In August a broad advance got underway and in the next 18 years, the S&P gained nearly 1,400% as measured to the weekly closing high in March 2000—using the March 2001 close, the gain is more than 1,000%.
A bear market ends when all the possible bad news has been discounted. And after it ends, there is usually more negative news that keeps coming. Keep in mind that the discounting mechanism of stocks is always also an attempt to look ahead, so stock values will reﬂect the expectations of what earnings could be when business conditions improve such as six months ahead. It also should be noted that no two bear markets are exactly alike. The 1987 bear market was amazingly short in duration and was measured in weeks, although the price declines were quite severe.