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Article Archive For Richard L. Evans

  • Are The Averages in Gear? by Richard L. Evans

    ARTICLE SYNOPSIS ...Are The Averages in Gear? by Richard L. Evans What is Dow theory really indicating when the industrial and transportation averages are out of sync? Here's a Dow theory specialist to clarify. One of Dow theory's main tenets and the basis of much modern-day technical analysis is the principle of confirmation. The confirmation theory originally took shape when Charles Dow first noticed that important market movements were preceded by joint confirmation of his two indices, the industrials and (at that time) the rails. Given that both indices represented at the time nearly all the important stock...

  • Guidelines With Support And Resistance by Richard L. Evans

    ARTICLE SYNOPSIS ...Guidelines With Support And Resistance by Richard L. Evans Given the explosive growth of the financial markets, with all the derivative products and the increased complexity of trading strategies, all aided by the evolution of computers, some exotic forms of technical analysis have emerged. A perusal of some of the recent features of STOCKS & COMMODITIES is enough to overwhelm many an average investor. However, one of the oldest forms of technical analysis, support and resistance, can still put the individual investor on the same playing field with the institutional investor when it involves ...

  • Dow Theory Confirmation And Divergence by Richard L. Evans

    ARTICLE SYNOPSIS ...Dow Theory Confirmation And Divergence by Richard L. Evans According to one of the most important tenets of the Dow theory, the Dow Jones Industrial and Transportation Averages must confirm each other to be able to derive forecasting significance from them. In The Dow Theory, originally published in 1932, Dow theorist Robert Rhea states: ""The movements of both the railroad and industrial stock averages should always be considered together. The movement of one price average must be confirmed by the other before reliable inferences may be drawn. Conclusions based upon the movement of one avera...

  • The Essence Of Dow Theory: Confirmation And Divergence by Richard L. Evans

    ARTICLE SYNOPSIS ...The Essence Of Dow Theory: Confirmation And Divergence by Richard L. Evans The Dow theory tenet that the Dow Jones Industrials and Dow Jones Transports must ""confirm"" one another is listed perfunctorily in most Dow theory discussions, but confirmations and divergences are the gist of Dow theory. In an article in the July 1991 STOCKS & COMMODITIES, I discussed some nuances of Dow theory divergence and nonconfirmation. Briefly, Dow theory says that both the industrial and the transportation averages must confirm to have forecasting implications. Any signal on the part of one index without con...






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