Technical Analysis: The Complete Resource for Financial Market Technicians

Description

Now, there's a comprehensive, objective, and reliable tutorial and reference for the entire field of technical analysis. For traders, researchers, and serious investors alike, this is the definitive book on technical analysis. Individual investors and professional investment managers are increasingly recognizing the value of technical analysis in identifying trading opportunities. Moreover, the SECs requirement for analysts and brokers to pass Section 86 exams can now be fulfilled with the Chartered Market Technician (CMT) certification.

Author Charles D. Kirkpatrick II has spent decades using technical analysis to advise major investing institutions -- and he currently teaches the subject to MBA candidates, giving him unique insight into the best ways of explaining its complex concepts. Together with university finance instructor and CMT Dr. Julie Dahlquist, Kirkpatrick systematically explains the theory of technical analysis, presenting academic evidence both for and against it. Using 200+ illustrations, the authors explain the analysis of markets and individual issues, and present a complete investment system and portfolio management plan. Readers will learn how to use tested sentiment, momentum indicators, seasonal affects, flow of funds, and many other techniques. The authors reveal which chart patterns and indicators have been reliable; show how to test systems; and demonstrate how technical analysis can be used to mitigate risk.

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Table of Contents

Acknowledgments xxv

About the Authors xxvii

Chapter 1: Introduction to Technical Analysis  3

Chapter 2: The Basic Principle of Technical Analysis–The Trend  9

Chapter 3: History of Technical Analysis  21

Chapter 4: The Technical Analysis Controversy  31

Chapter 5: An Overview of Markets  55

Chapter 6: Dow Theory  73

Chapter 7: Sentiment  85

Chapter 8: Measuring Market Strength  125

Chapter 9: Temporal Patterns and Cycles  155

Chapter 10: Flow of Funds  169

Chapter 11: History and Construction of Charts  191

Chapter 12: Trends–The Basics  215

Chapter 13: Breakouts, Stops, And Retracements  247

Chapter 14: Moving Averages  271

Chapter 15: Bar Chart Patterns  301

Chapter 16: Point-and-Figure Chart Patterns  341

Chapter 17: Short-Term Patterns  365

Chapter 18: Confirmation  411

Chapter 19: Cycles  455

Chapter 20: Elliott, Fibonacci, and Gann  485

Chapter 21: Selection of Markets and Issues: Trading and Investing  511

Chapter 22: System Design and Testing  539

Chapter 23: Money and Risk Management  571

Appendix A: Basic Statistics  593

Appendix B: Types of Orders and Other Trader Terminology  621

Bibliography  625

Index  645

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