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After the first rebound from the initial peak, the chartist would be able to establish the downtrend, line E.
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Nevertheless, in a rotten investment environment in which nothing seems to work, I recently revisited the chartist approach in hopes that I was wrong.
One of the best technicians we know is Dan Sullivan, The Chartist who has been penning his successful newsletter for 43 years.
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With the worries acknowledged, the amateur chartist in me has to say that I continue to be impressed with the action.
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The author had no sympathy for the working class Chartist labour movement and he was certainly no trade unionist.
As the fall of 1998 approached, a subsequent roundup of chartist projections in Barron's foresaw the Dow tumbling as low as 5000.
Hence, we should be good chartist and project the strongest trend forward.
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On the surface, they failed, as did Britain's Chartist movement between those years.
My staff and I road-tested numerous chartist tools to see if they were valid in the real world--they included trend lines, resistance and oscillators.
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