smart money concepts is just another Dow theory
The Dow Theory is a financial theory that was developed by Charles Dow, the founder of the Wall Street Journal. The theory is based on the analysis of the stock market and is used to predict future trends in the market. The Dow Theory is considered to be one of the foundational theories of technical analysis.
According to the Dow Theory, the market moves in three trends: primary, secondary, and minor. The primary trend is the long-term trend and can last anywhere from several months to several years. The secondary trend is the intermediate trend, which typically lasts from three weeks to three months. The minor trend is the short-term trend, which can last from a few days to a few weeks.
The Dow Theory also identifies two types of movements in the market: the bull market and the bear market. A bull market is characterized by rising prices and an optimistic outlook, while a bear market is characterized by falling prices and a pessimistic outlook.
The Dow Theory is based on the analysis of the Dow Jones Industrial Average, which is a stock market index that tracks the performance of 30 large, publicly-owned companies in the United States. The theory uses the Dow Jones Industrial Average to identify trends and predict future market movements.
Overall, the Dow Theory is still widely used by investors and traders today, although it has been updated and modified over time.
According to the Dow Theory, the market moves in three trends: primary, secondary, and minor. The primary trend is the long-term trend and can last anywhere from several months to several years. The secondary trend is the intermediate trend, which typically lasts from three weeks to three months. The minor trend is the short-term trend, which can last from a few days to a few weeks.
The Dow Theory also identifies two types of movements in the market: the bull market and the bear market. A bull market is characterized by rising prices and an optimistic outlook, while a bear market is characterized by falling prices and a pessimistic outlook.
The Dow Theory is based on the analysis of the Dow Jones Industrial Average, which is a stock market index that tracks the performance of 30 large, publicly-owned companies in the United States. The theory uses the Dow Jones Industrial Average to identify trends and predict future market movements.
Overall, the Dow Theory is still widely used by investors and traders today, although it has been updated and modified over time.