Daily Digest:
w/c 17 June 2024: The US data highlight this week is Retail Sales on Tuesday, with global Flash PMI data on Wednesday. Plus on the central bank side we get the RBA, PBoC, SNB and BoE all in play

Technical Analysis – History

  • Technical Analysis has a long history and in Europe can be traced to the 17th century writings of Joseph de la Vega about the Dutch Stock markets.
  • In 18th Century Japan, Homma Munehisa, a very successful rice futures trader developed the Candlestick trading approach, which is still used today.

Charles Dow
Charles Dow

Jose De La Vega
Jose De La Vega

Homma Munehisa
Homma Munehisa

  • In the late 19th century, Charles Dow wrote a series of articles in the Wall Street Journal. The content of these editorials were, after Dow’s death, compiled by William Peter Hamilton, to form Dow Theory, which is the basis of much of modern technical analysis.
  • Subsequent to Dow Theory in the early 20th century, Elliot Wave Theory (developed by Ralph Nelson Elliott) and Gann Theory (William Delbert Gann) expanded the world of technical analysis, building on and adapting Dow’s work.
  • In the late 20th Century and into the 21st, Welles Wilder, John Bollinger, Peter Steidlmayer, and Thomas DeMark are standout names that have added to the wealth of technical analysis tools now at the disposal o the analyst and trader.

Read also about the principles of technical analysis

Editor in chief

Steve Miley is the Market Chartist and has 32 years of financial market experience and as a seasoned expert now has many responsibilities. He is the founder, Director and Primary Analyst at The Mar... Continued

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