Stock Market Trend Technical Analysis - (8th Edition) (8th Edition)

Author: Edward
Publisher:
Publish Date: 2004-02-01
Features: What is it that makes a book so difficult to become a classic? Not just a classic, but also a practical guide and manual for current use? To answer this question, we must ask another: What are chart patterns? The chart patterns discovered and analyzed by the author of this book are graphical representations of human behavior under complex multivariate environments. They describe various human behaviors related to a single variable (i.e., price). Price generates a series of effects and consequences: fear, greed, desire, cunning, malice, naivety, profit estimation, brokers' need for income, susceptibility to deception, professional financial advisors' craving for performance and job stability, supply and demand of stocks, liquidity and money flow, self-destruction, passivity, setting traps, behind-the-scenes manipulation, blind arrogance, conspiracy, deception, and double trading, lunar phases and solar spots, economic cycles and beliefs in them, public sentiment, and humanity's relentless pursuit of "correctness." Chart patterns are the language of the market, telling us that one stock is in its death throes; another is on a rocket heading to the moon; a third is involved in a life-and-death battle; and yet another has just defeated the bears and is shifting from defense to offense. In short, they are the indelible fingerprints of human nature left behind in the greatest competition humanity has ever experienced, excluding war. Just as Freud mapped the human psyche, Edward and Magee mapped the human intellect and emotions as they manifest in financial markets. They not only created authoritative maps but also invented methods to interpret human and market behavior to profit from it. Before the unimaginable breakthroughs in artificial intelligence supported by computer hard drives, it is hard to imagine further progress in this field.