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Analysis of the trends in the index of the Dow Jones Industrial Average (DJIA) of the New York Stock Exchange (NYSE)

Listed author(s):
  • Caglar Tuncay
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    It is hypothesized that price charts can be empirically decomposed into two components as random and non random. The non random component, which can be treated as approximately regular behavior of the prices (trend) in an epoch, is a geometric line. Thus, the random component fluctuates around the non random component with various amplitudes. Moreover, the shape of a trend in an epoch may be different in another epoch. It is further hypothesized that statistical evidence can be found for various relations between several types of trends and the direction of the next movements of the prices. These hypotheses are tested on the historical data of the DJIA (Dow) and confirmed. Moreover, it is statistically showed that a number of trends that have occurred in the near past course of the Dow can be utilized to presage the near future of the index. As a result, upcoming of a recession in the DJIA, which may portend a worldwide economic crisis, is predicted.

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    Paper provided by in its series Papers with number 1109.4372.

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    Date of creation: Sep 2011
    Handle: RePEc:arx:papers:1109.4372
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