ABSTRACT
Charts Charts are the working tools of the technical analyst. They have been developed in a multitude of forms and styles to represent graphically almost anything that takes place in the market as well as to plot an “index” derived therefrom. They may be monthly charts on which an entire month’s trading record is condensed into a single entry, or they may be weekly, daily, hourly, transaction, “point-and-gure,” and candlestick charts. They may be constructed on arithmetic, logarithmic, or square-root scale, or they may be projected as “oscillators.” They may delineate moving averages, proportion of trading volume to price movement, average price of most active issues, odd-lot transactions, the short interest, and an innitude of other relations, ratios, and indexes-all technical in the sense that they are derived, directly or indirectly, from what actually has been transacted on the exchanges.
