Market timing: a test of a charting heuristic
Abbreviated Journal Title
technical trading; security markets; TRADING RULES; PROFITABILITY; STRATEGIES; Economics
We implement a graphical (or 'charting') heuristic, the 'bull flag', which accepts a particular pattern of historical prices as a signal for a future market price increase, test it with several years of New York Stock Exchange Composite Index history, and find positive results. The results support the validity of technical analysis for stock market price prediction and fail to confirm the efficient markets hypothesis. (C) 2002 Elsevier Science B.V. All rights reserved.
"Market timing: a test of a charting heuristic" (2002). Faculty Bibliography 2000s. 3311.