Stand on the shoulders of giants of markets like Charles Dow and profit from them

The Dow theory has long history of more than 100 years and it has been expanded and refined subsequently keeping in view he technological innovations that have happened in the financial markets. It s main contribution is in identifying the major and secondary trends of price movements of stocks and giving guidance for making positional trades valid for two to three months. Minor trends are not given much importance in the Dow theory as it is not meant for very short term trading like the intra day trading.