Could anyone tell me if the "Dow Theory" is still relevant today?
Do the Industrial and rail averages still exist? The dow theory had 12 tenets and was used as a barometer to "gauge economic activity" (thats what the book says) and confirm a "change in trend" , it also describes at great length the characteristics of a bull and bear market and types of corrections.
Do we have a similar theory for Indian markets? How do technical analysts forecast when a correction is imminent (like Prakash Gaba and others they predict or try to predict corrections 10 days in advance) is there a specific theory theses analysts apply (like the dow theory for US markets) to predict corrections and changes in trend with whatever varying degree of success.
Can we apply the dow theory to Indian markets and if so what would be the Indian equivalent of the Industrial and rail averages?
Do the Industrial and rail averages still exist? The dow theory had 12 tenets and was used as a barometer to "gauge economic activity" (thats what the book says) and confirm a "change in trend" , it also describes at great length the characteristics of a bull and bear market and types of corrections.
Do we have a similar theory for Indian markets? How do technical analysts forecast when a correction is imminent (like Prakash Gaba and others they predict or try to predict corrections 10 days in advance) is there a specific theory theses analysts apply (like the dow theory for US markets) to predict corrections and changes in trend with whatever varying degree of success.
Can we apply the dow theory to Indian markets and if so what would be the Indian equivalent of the Industrial and rail averages?