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• Pacryuras YBepeHHOCTb psmxa B ycrrexax rex, KTO acnoxssyer TeXHHqeCKHH aHaAH3.
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TeopMA Aoy - 3apO)l(AeHMe TeXHM~eCKOrO aaanaaa
COBpeMeHHhIH TeXHH'IeCKMH aHaAM3 Ha'IMHaAO! C pa60T M TeOpMH l.J:apAh3a Fenpa Aoy (1851- 1902). Aoy npaexax B HhIO-I10PK B 1879 rOAY M CTaA patioTaTh perroprepoxr B cAY)K6e cpMHaHcoBhIX HOBOCTeH. OCHOBaB B 1882-M BMeCTe C 3ABapAOM A. ~OHCOM Dow Jones & CO, OH 3aH5IACH MHcpopMaIJ;MOHHhIM ooecrre'IeHHeM cpMHaHcoBhIx opraHM3aIJ;MH YOAA-CTpMT.
Ilpa M3ytIeHMM IJ;eHhI 3aKphITHH na pa3AM'IHhle aKIJ;MM Aoy rrOH5IA, 'ITO MO)KHO C03AaTh «tiaponerp psnnca». HJlli ycpeAHeHHLIH HHAeKC, KOTOPhIH 6hI rrOKa3hIBaA MHBeCTopaM 06IT(YIO KapTMHY ABM)KeHMH psraxa aKIJ;MH. B MIOAe 1884 roaa AOY orrytixaKOBaA CBOH nepasra pacser na OCHOBe cpeanero OT OAHHHClAQaTM aKIJ;MH, KOTOPhIH Ha3hIBaACH «)KeAe3HOAopmKHhIM HHAeKCOM», rroToMY'ITO 9 M3 HMX 6hIAM aKIJ;MHMM )KeAe3HOAOpO)KHhIX KOMrraHMH. Ilepssre ycpenaennsre MHAeKChI BpeMH OT npexeHM rry6AMKOBaAHCh 6IOAAeTeHeM Customer's Afternoon Letter KOMrraHMM Aoy - rrpeAllieCTBeHHMKOM The Wall Street Journal, KOTOPaH Ha'IaAa M3AdBaThCH C 1889 roz,a.
nOMMMO cpMHaHCOBOH )KYPHaAMCTMKM, C 1885 rro 1891 rOA Aoy 6hIA 'IAeHOM HhIO-I10PKCKOH CPOHAoBOH 6MP)KM. Aoy rrpOAOA>KaA M3ytIaTh AaHnsre psnnca M K 1896 rOAY peurnx, 'ITO ero rrepasnr MHAeKC orpaxcaer COCTOHHMe TOAhKO He60AhllIOH 'IaCTH 3KOHOMMKM. Aoy rrpeArrOAO)KMA, 'ITO eCAM McrrOAh30BaTh ABa He CBH3aHHhIX Me)KAY C060H rrOKa3aTeAH COCTOHHMH 3KOHOMMKM, TO OHM 6YAYT CMrHaAH3MpOBaTh 0 AI06hIX 3Ha'IMTeAhHhIX rpenAax na psnrxe. TaKMM 06pa30M, OH BBeA nposrsnnAeHHhIH HHAeKC, OCHOBaHHhIH rra cpeAHeH IJ;eHe 3aKphITHH aKIJ;MH 12 rrpOMhIIllAeHHhIX KOMrraHMH, C'IMTaBllIMXCH roraa HaM60Aee Ba)KHhIMM.
npOMhImAeHHhIH HHAeKC Aoy - ~oHca 6hIA anepasre orryoxaxoaen 26 MaH 1896 rona B The Wall Street Journal. BMeCTe C )KeAe3HOAOpO)KHhIM MHAeKCOM [renepr, Ha3hIBaeMhIM rpancnoprnsm]
3TM rrOKa3aTeAM C rex rrop rry6AMKYIOTCH B Ka)KAOM BhIIIycKe The Wall Street Journal.
B 1928 rOAY 'IMCAO KOMrraHMH 6hIAO YBeAM'IeHO C 12 AO 30 M OCTaeTOI TaKMM noasnre. C canoro Ha'IaAa M rro ceroAHHllIHMH AeHh B MHAeKce HeH3MeHHO npacyrcrsyer General Electric Company, a COCTaB APyrMx KOMrraHMH, BKAIO'IeHHhIX B MHAeKC, BpeMH OT BpeMeHM MeHHACH, 'IT06hI OTpaacars M3MeHeHMH B 3KOHOMMKe M coxparra'n, dAeKBaTHhIH OXBaT psnnca,
YIHAeKc na 3aKphITMe ropron B nepasrji AeHh rry6AMKaIJ;MM COCTaBMA 40,94. 3TO 3Ha'IeHMe novTM rrOBTOpHAOCh B 1932 rOAY - B pasrap AerrpecCMM. OTMeTKa B 1000 6hIAa AOCTMrHYTa B 1972 rOAY, a M.5I Toro 'IT06hI rrOAHHThCH C 4000 AO 60- Aee 'IeM 5500 (1996 r.), norpetioaaxoci, acero HeCKOAhKO AeT. Texyniee 3Ha'IeHMe MHAeKca Aoy~oHca B COTHM paa ssrnre ero nepsoa OTMeTKM, HO MHAeKC AO CMX rrop C'IMTaeTCH Ba)KHhIM noxa- 3aTeAeM axepaxaacxoro psnnca aKIJ;MH.
Fparpax noxaasraaer ABM)KeHMe MHAeKca Aoy - ~oHca 60Aee 'IeM sa 100 AeT, a TaK)Ke Hexoropsre Bd)KHhIe MCTOpM'IeCKMe C06hITMH.
American Cotton Oil American Sugar Refining Co.
American Tobacco Chicago Gas Distilling & Cattle Feeding Co.
General Electric Co.
Laclede Gas Light Co.
National Lead North American Co.
Tennessee Coal, Iron & Railroad Co.
US Leather US Rubber Co.
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Aoy He HanHCaA KHHrH 0 CBoeM TeopHH, HO ony6AHKoBaA cepmo CTaTeM B The Wall Street Journal B aasaae XX sexa. C60PHHK 3THX CTaTeM 6hIJ\. H3AaH B 1903 rOAY, scxope nOCAe cxepra Aoy B AeKa6pe 1902 r.
Aoy OTMeTHA, 'ITO aa npOCTOM AHHeMHOM rpacpHKe, H306pa>KaIOru;eM ycpeAHeHHYIO ueay H speMH, B03HHKaIOT aaraerooopasasre MOAeAH, KOTOpsre YKa3hlBaIOT aa TpeHAbI psmxa. 3TH MOAeAH HCnOAh3YIOTCH B TeXHH'IeCKOM aHaAH3e AO CHX nop, XOTH H CO MHO)KeCTBOM AOnOAHeHHH.
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3«1»«I»eKTMBHoe Mcnonb30BaHMe TeopMM Aoy Teopas AOY HMKOrAd He npeanaaaavaxacs M.H orrpeAeAeHMH MOMeHTa rrpOAd)KM MAH noxynxn KOHKpeTHhIX aKQMM, a peapaoersraaxecs M.H onenxa OCHOBHhlX TpeHAOB psrnxa na OCHOBe uen aaxpsrTMH. nOCKOAhKY 3TOT BMA TeXHM'IeCKOrO aHaAH3a OCHOBaH na CAeAOBaHMM 3a TpeHAOM, OH He MO)KeT TOl.JHO npeacxesars Hal.JaAO M pasaopor rpeaAa. Ilpa nosioma aHaAM3a TaK)Ke HeB03MO)KHO npeacxasars TOl.JHYIO AAMTeAhHOCTh M BeAHl.JMHY TpeHAa. HeCMOTpH na 3TM OrpaHMl.JeHMH, sa nepaOA C 1897 rro 1991 rOA C noxonn.ro reopaa AOY 6hIAO CAeAaHO 60Aee 40 npaeaxsmax nponroaon (npa rrHTM nerrpanaxamrx].
Aoy paCCl.JMThIBaA, 'ITO ero MHAeKChI 6YAYT «6apOMeTpaMM punxa», TO eCTh BhI60p noxynxn MAH rrpOAa)KM OTAeAhHhIX aKU;MM OCTaBaACH nexnKOM B PYKax MHBeCTopOB. YI3Ha'IaAhHO MHAeKChl He noxyrrexacs M He npoaaaexacs, KaK aKU;MM, HO C Hal.JaAa 1980-x rOAOB rrOHBMAHCh cphIOl.JepCHhle KOHTpaKThI na MHAeKChI. B 1982 rOAY l.J:MKarcKaH TOBapHaH 6Mp)Ka asmycraaa cphIOl.JepChI aa MHAeKC Standard & Poor's 500, a B 1984 rOAY J\OHAOHCKaH 6Mp)Ka BhIIIYCTMAa cphIOl.JepChI M onnaoHhl aa MHAeKC FTSE 100.
06paTHTe BHHMaHHe, 'ITO AHeBHOH rparpaxe 60- xee AeTaAeH, a HeAeAbHbIH rpacpax MeHbIIIe «3arpOMO>KAeH», aa HeM BHAHa 60Aee MaCIIITa6Hd5I KapTHHa. OPH TeXHH'IeCKOM aHdAH3e CrreU;HdAHCTbI Bbl6HpaIOT TaKOH MaCIIITa6, KOTOPbIH HaH60- xee TO'IHO COOTBeTcTByeT BpeMeHHOMY npoxe>KYTKy HX HCCAeAOBaHH5I MAH TOprOBAH.
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/'vK. Illnarep/Tlep. c aara, AAhIUlHa TIa6AHillep. 2001 r. ISBN 5 89684 024 1
Japanese Candlestick Charting Techniques Steve Nison, New York Institute of Finance, 1991 ISBN 01393 16507
Candlestick Charting Explained*
Gregory Morris, Probus Publishing Co., 1995 ISBN 1 55738891 1
Study Help for Point & Figure Techniques Alexander Wheelan, Fraser Publishing, 1990 ISBN 0 8703 4091 3
Technical Analysis of Stock Trends Chapter 2
Robert D. Edwards and John Magee, John Magee Inc. ISBN 0 910944 00 8
* 3ma KHura IlAUHupyemcR K BblXOgy Ha PYCCKOM R3blse B u3gameAbCmBe rrMbnU1W Ilatisiuuep» B 2001 rogy nog Ha3BaHueM rr}lnoHcKue CBe'lU: netnoq aHGAU3a aK4uu U cjJblO'lepCOB, npoBepeHHblu speuenen». - ITPHM. peA.
Technical Analysis of the Futures Markets, Chapter 3 John J. Murphy, New York Institute of Finance, 1986 ISBN 0 13 898008 X
Technical Analysis of Stocks and Commodities
Technical Analysis of Volume by H. K. Waxenberg Vol. 4:2 (65-68), 1986
Point and Figure Charting by G. Van Powell Vol. 11:1 (30:33), 1993
Candlesticks and Intraday Market Analysis by G. S. Wagner & B. 1. Matheny
Vol. 11:4 (169-173),1993
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