DOW theory

DOW theory is to Observe the mkt ( price movement of the Stock) than the Company;
i) Open the ‘Price charts  use ‘Daily charts’  min 2 years
, spot the Tops & Bottom
ii) Qualify the spotted Tops & Bottoms as higher & lower
Identify the Sequence with ‘volume significance’ (like HT – HB etc)
iii) ‘Qualify’ the identified ‘Tops & Bottoms’ as HB, HT , LB , LT
iv) Identify the ‘Sequence’
HB – HT  with Volume Bullish trend
LT – LB  with Volume  Bearish trend
v) Create ‘Long’ / ‘Short’ accordingly