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It is not suitable for intraday trading.
It remains on top because of most of analysis can be done through the dow theory. It works still today.It is only used for long term ie more than years.
Dow theory is applicable only for long positions and not suitable for intraday /short term period.
However as it is pioneer in technical analysis and still it holds good for present market conditions, Dow theory remains in top.
There is no specific exit point is mentioned. Wave theory helps to assess the future trend. That is why it remains on top of any analysis
Dow theory predicts the trend in long term but not the price movements.
It remains in the top of any analysis because it serves as a premises for all the other analysis, and no successful analysis contradicts the Dow theory.
Dow theory is meant for trading long. It allows the stock to go through various variations and gives and indication as to where to buy and sell
It is not useful for intra day trading. However it is the oldest proven system in vogue and all other analysis available today are a corollary of this system
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