CMT Level I 2018. An Introduction to Technical Analysis

  • ID: 4426955
  • Book
  • 648 Pages
  • John Wiley and Sons Ltd
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Everything you need to pass Level I of the CMT Program

CMT Level I 2018: An Introduction to Technical Analysis fully prepares you to demonstrate the basic competencies of an entry–level analyst, including a working knowledge of terminology and the ability to discuss key concepts and fundamental analytical tools. Covered topics address theory and history, markets, market indicators, construction, confirmation, cycles, selection and decision, system testing, and statistical analysis. The Level I exam emphasizes trend, chart, and pattern analysis.

This cornerstone guidebook of the Chartered Market Technician® Program will provide every advantage to passing the Level I CMT Exam.

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About the CMT Association ix

What Is the CMT® Program? xi

How This Book Was Created xiii

Preface xv

SECTION I Chart Development and Analysis 1

Chapter 1 The Basic Principle of Technical Analysis—The Trend 3Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 2 Dow Theory 15Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 3 History and Construction of Charts 27Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 4 Trends—The Basics 45Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 5 Breakouts, Stops, and Retracements 73Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 6 Moving Averages 95Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 7 Bar Chart Patterns 123Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 8 Short–Term Patterns 156Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 9 Confirmation 198Charles D. Kirkpatrick II and Julie R. Dahlquist

Chapter 10 Candlestick Charting Essentials 240Steve Nison

Chapter 11 Point–and–Figure Charting 250Perry J. Kaufman

Chapter 12 Introduction to the Wave Principle 276Wayne Gorman, Jeffrey Kennedy, and Robert R. Prechter, Jr.

Chapter 13 The Anatomy of E lliott Wave Trading 294Wayne Gorman, Jeffrey Kennedy, and Robert R. Prechter, Jr.

SECTION II Markets 309

Chapter 14 Overview 311David Wilson

Chapter 15 Government 320David Wilson

Chapter 16 Companies 344David Wilson

Chapter 17 Hard Assets 370David Wilson

Chapter 18 Indexes 386David Wilson

Chapter 19 Measuring Market Strength 394Charles D. Kirkpatrick II and Julie R. Dahlquist

CHAPTER 20 What Is the Efficient Market Hypothesis? 427Edwin T. Burton and Sunit N. Shah

Chapter 21 The EMH and the“Market Model” 435Edwin T. Burton and Sunit N. Shah

Chapter 22 The Forerunners to Behavioral Finance 443Edwin T. Burton and Sunit N. Shah

Chapter 23 Noise Traders and the Law of One Price 448Edwin T. Burton and Sunit N. Shah

Chapter 24 Noise Traders as Technical Traders 456Edwin T. Burton and Sunit N. Shah

Chapter 25 Option Pricing Basics 466Edwin J. Elton, Martin J. Gruber, Stephen J. Brown, and William N. Goetzmann

SECTION III Statistical Analysis and System Development 477

Chapter 26 Objective Rules and Their Evaluation 479David Aronson

Chapter 27 Basic Concepts and Calculations 494Perry J. Kaufman

Chapter 28 Academic Approaches to Technical Analysis 507Andrew W. Lo and Jasmina Hasanhodzic

Chapter 29 Understanding Implied Volatility 521
Russell Rhoads

Chapter 30 About the VIX Index 533Russell Rhoads

SECTION IV Introduction to the Tools for Building Technical Investing Strategies 547

Chapter 31 Being Right or Making Money 549Ned Davis

Chapter 32 The Model]Building Process 579Ned Davis

Chapter 33 Seasonality and Calendar Patterns 594Perry J. Kaufman

Chapter 34 Consensus and Commitment Indicators 606Dr. Alexander Elder

Chapter 35 Relative Strength as a Criterion for Investment Selection 613Robert A. Levy

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