Six basic tenets of Dow Theory
1) The market has three movements
2) Market trends have three phases
3) The stock market discounts all news
4) Stock market averages must confirm each other
5) Trends are confirmed by volume
6) Trends exist until definitive signals prove that they have ended
Above 6 tenets of Dow Theory, were give way back in early 1900.
Check point no 4.
Working after so many years also.
What a visionary was Mr. Charles Dow.
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