SUBS Elliott Wave theory ETC suIs=—A Quotation Traders of my generation armed themselves with chars and computer generated graphic that predicted future price direction. West day ater day in front ofthese screens, Market Psychology mesmersed by blinking lights and ever-changing numbers ina deafening cacophony of information overioed With the possible exception of Eliott wave theory, an intellectual framework for understanding the course of socal political, and economic events was noticeably forgotten in Favour of just making sure that one was part of the ever awiekening proces ‘ecTION Pa Tar oes Te ale of ancy Gearge Sort eS sunsDow Theory - Important Elements «The averages discount everything “¢ The market has three trends ‘¢ Major trends have three phases {¢ The averages must confirm each other 4 Volume must confirm the trend |¢ A trend is assured to be in effect until t gives definite ‘signals that it has reversed UBS Anatomy of Price Action aan oo a + consoldation ‘Market will always be in one of these 3 modes Buns .