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The Dow theory on stock price movement is a form of technical analysis that includes some aspects of sector rotation.The theory was derived from 255 editorials in The Wall Street Journal written by Charles H. Dow (1851–1902), journalist, founder and first editor of The Wall Street Journal and co-founder of Dow Jones and Company.
Technical analysts also widely use market indicators of many sorts, some of which are mathematical transformations of price, often including up and down volume, advance/decline data and other inputs. These indicators are used to help assess whether an asset is trending, and if it is, the probability of its direction and of continuation.
William Peter Hamilton (January 20, 1867 – December 9, 1929), a proponent of Dow Theory, was the fourth editor of the Wall Street Journal, serving in that capacity for more than 20 years (i.e., January 1, 1908 – December 9, 1929).
Yahoo Finance’s Jared Blikre breaks down Tuesday’s market action.
A $1 change in any of the Dow’s 30 stocks moves the Dow by 1 divided by the divisor. Or, for our purposes, 6.59 points. At $470.83 a share, UnitedHealth is the Dow’s highest-priced stock.
The Dow Jones Industrial Average promptly finished Wednesday's session down more than 1,100 points. It rallied slightly on Thursday, but the selling pressure renewed on Friday.
The indicator is trend-following, and based on averages, so by its nature it doesn't pick a market bottom, but rather shows when a rally has become established. Coppock designed the indicator (originally called the "Trendex Model" [1]) for the S&P 500 index, and it has been applied to similar stock indexes like the Dow Jones Industrial Average ...
The Dow isn’t the only index to use this method. Japan’s Nikkei 225 is also price-weighted instead of employing the market capitalization method that uses the overall value of the components ...