ABSTRACT
Experienced wilderness guides and expert trackers say that the art of following a creature is not quite as simple as following a set of footprints. If it were that easy, anyone with adequate eyesight could do the same. Expert tracking involves reading signs when they are available; it also requires deduction, logic, and a certain ability to match wits with the creature pursued. Ideally, tracking is the ability to outguess the next move of the beast and be present at the arrival of the prey. The stock market, when observed from fixed points, can display similar signals. When new highs are not being achieved, the market signals weakness and may be receding to lower levels. Tracking the beast can give the investor a feeling of the strength, intensity, and direction of the market. Support and resistance are two basic and important elements of technical analysis, some believe they are the most important elements.
