dow theory was founded by Charles h dow, to determine the supply and demand based on the price and volume. marking of lower tops and higher tops and lower bottoms and higher bottoms are known as dow theory
1) take 2 years of a line chart.
2) mark the top and bottom on the line charts
3) mark the higher bottom, higher top, lower top, and lower bottom.
4)sequence of the higher bottom to higher top is bullish with considering the volume.
the sequence of the lower top to lower bottom is bearish with considering the volume.