The Stock Market Barometer. English-only reading by default; switch among English, Chinese, and Spanish, or compare languages side by side.
This chapter examines V. Major Market Swings, using the author’s early-twentieth-century investment framework to explain how investors were expected to judge security quality, income, risk, and market conditions. It opens from the chapter’s own discussion: IT may be said, in continuing the discussion of what Charles H. Dow actually published in the columns of The Wall Street Journal, on his now well-known theory of the stock price movement as shown by the averages, and it must be emphasized, that he was consciously devising a scientific barometer for practical use.
Readers studying financial history, investment education, and the chapter’s specific subject—Dow Theory, major swings, stock market barometer—will get the most from this section. It is not suitable as a modern trading or investment checklist.
Read this chapter as historical investment education. The market rules, disclosure practices, securities, commissions, interest-rate conditions, and investor protections around Dow Theory, major swings, stock market barometer may differ sharply from modern markets.