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The premises of technical analysis were derived from empirical observations of financial markets over hundreds of years. Perhaps the oldest branch of technical analysis is the use of candlestick techniques by Japanese traders at least as early as the 18th century, and still very popular today.
Dow Theory, a theory based on the collected writings of Dow Jones co-founder and editor Charles Dow, inspired the increasingly widespread use and development of technical analysis from the end of the 19th century. Modern technical analysis considers Dow Theory its cornerstone.
New tools and theories have been produced and existing tools have been enhanced at a rapid rate in recent decades, with an increasing emphasis on computer-assisted techniques.
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