The Dow theory on stock price movement is a form of technical analysis that includes some aspects of sector kinoparks.ml theory was derived from Wall Street Journal editorials written by Charles H. Dow (–), journalist, founder and first editor of The Wall Street Journal and co-founder of Dow Jones and kinoparks.mling Dow's .
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Alfred Cowles in a study in Econometrica in showed that trading based upon the editorial advice would have resulted in earning less than a buy-and-hold strategy using a well diversified portfolio.