Over the last decade I have met many of the top
technical analysis "gurus" as well as shared experiences with thousands
of newcomers. The common element I've discovered among investors who use
technical analysis, regardless of their expertise, is the desire to
No single book, nor any collection of books, can
provide a complete explanation of technical analysis. Not only is the
field too massive, covering every thing from Federal Reserve reports to
Fibonacci Arcs, but it is also evolving so quickly that anything written
today becomes incomplete (but not obsolete) tomorrow.
Armed with the above knowledge and well aware of the
myriad of technical analysis books that are already available, I feel
there is a genuine need for a concise book on technical analysis that
serves the needs of both the novice and veteran investor. That is what I
have strived to create.
The first half of this book is for the newcomer. It
is an introduction to technical analysis that presents basic concepts
and terminology. The second half is a reference that is designed for
anyone using technical analysis. It contains concise explanations of
numerous technical analysis tools in a reference format.
When my father began using technical analysis thirty
years ago, many people considered technical analysis just another 1960's
adventure into the occult. Today, technical analysis is accepted as a
viable analytical approach by most universities and brokerage firms.
Rarely are large investments made without reviewing the technical
climate. Yet even with its acceptance, the number of people who actually
perform technical analysis remains relatively small. It is my hope that
this book will increase the awareness and use of technical analysis, and
in turn, improve the results of those who practice it.
"Information is pretty thin stuff, unless mixed
-Clarence Day, 1920