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Technical Analysis: The Complete Resource for Financial Market Technicians [Hardcover]

Charles D. Kirkpatrick II , Julie Dahlquist
4.1 out of 5 stars  See all reviews (10 customer reviews)
RRP: 57.99
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Book Description

15 Nov 2010

Already the field's most comprehensive, reliable, and objective guidebook, Technical Analysis: The Complete Resource for Financial Market Technicians, Second Edition has been thoroughly updated to reflect the field's latest advances. Selected by the Market Technicians Association as the official companion to its prestigious Chartered Market Technician (CMT) program, this book systematically explains the theory of technical analysis, presenting academic evidence both for and against it. Using hundreds of fully updated illustrations, the authors explain the analysis of both markets and individual issues, and present complete investment systems and portfolio management plans. They present authoritative, up-to-date coverage of tested sentiment, momentum indicators, seasonal affects, flow of funds, testing systems, risk mitigation strategies, and many other topics. This edition thoroughly covers the latest advances in pattern recognition, market analysis, and systems management. The authors introduce new confidence tests; cover increasingly popular methods such as Kagi, Renko, Kase, Ichimoku, Clouds, and DeMark indicators; present innovations in exit stops, portfolio selection, and testing; and discuss the implications of behavioral bias for technical analysis. They also reassess old formulas and methods, such as intermarket relationships, identifying pitfalls that emerged during the recent market decline. For traders, researchers, and serious investors alike, this is the definitive book on technical analysis.


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Technical Analysis: The Complete Resource for Financial Market Technicians + Technical Analysis Explained: The Successful Investor's Guide to Spotting Investment Trends and Turning Points + The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting Method
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Product details

  • Hardcover: 704 pages
  • Publisher: Financial Times/ Prentice Hall; 2 edition (15 Nov 2010)
  • Language: English
  • ISBN-10: 0137059442
  • ISBN-13: 978-0137059447
  • Product Dimensions: 23.9 x 18.3 x 3.3 cm
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (10 customer reviews)
  • Amazon Bestsellers Rank: 230,600 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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From the Back Cover

Praise for the First Edition

“I’ve been reading technical analysis works for forty years. This is the first book on the subject worthy of being called both comprehensive and disciplined. It will be a great asset to both practitioners and serious students alike.”

--Phil Roth, CMT, Chief Technical Market Analyst, Miller Tabak + Co.

 

“The authors deftly straddle the divide between the artistic and the rigorous aspects of technical analysis. The publication of this text is an important financial-market event and the authors are to be congratulated.”

--John Bollinger, CFa, CMT, President, Bollinger Capital Management

 

“The authors have done a superb job of making the subject so understandable, setting goals for each chapter, and seeing they are met, with a concise summary at each chapter’s end. After four decades of practicing the subject, I am proud to place my colleagues’ book in a prominent spot in my technical analysis library.”

--Alan R. Shaw, CMT, former Managing Director, Smith Barney, second President of Market Technicians Association

 

“As both a technical analysis teacher and practitioner, I have long looked for a book that covers the subject from a practitioner’s perspective and at the same time meets a student’s need to learn a complete body of knowledge. Kirkpatrick’s and Dahlquist’s book is the first I have seen that hits the mark on both fronts.”

--Bruce M. Kamich, CMT, Adjunct Professor of Finance, Baruch College, and former President, Market Technicians Association

 

“This book is an excellent contribution to technical analysis literature. The authors are careful not to overstate the powers of technical analysis, and they include an appendix on statistical procedures and end-of-chapter review questions to empower the new technical analysis student. As either a stand-alone text or as a companion to other technical analysis books, this book should appear on every technician’s bookshelf.”

--Hank Pruden, Professor of Business and Executive Director, Institute for Technical Market Analysis, Ageno School of Business, and Golden Gate University

 

Technical Analysis is the primary book on the subject suitable for full-length courses taken to achieve the Chartered Market Technician (CMT) designation and series 86 exam exemption.

 

Already the field’s most comprehensive and reliable guidebook, Technical Analysis, Second Edition, has been fully updated to reflect the latest advances. Selected by the Market Technicians Association as the principal textbook for its prestigious Chartered Market Technician (CMT) program, this book systematically and objectively introduces the entire discipline.

 

Using hundreds of updated illustrations, the authors show how to analyze both markets and individual issues and present complete investment systems and portfolio plans. Readers learn how to use tested sentiment, momentum indicators, seasonal effects, flow of funds, and many other key techniques. Drawing on current research, the authors reveal which chart patterns and indicators remain the most reliable, demonstrate how to test systems, and show how to use technical analysis to mitigate risk.

 

This edition covers recent advances in pattern recognition, market analysis, systems management, and other areas. It introduces new confidence tests; innovations in exit stops, portfolio selection, and testing; and the implications of behavioral bias for technical analysis. The authors also reassess classic methods such as intermarket relationships and measurements of market strength, identifying pitfalls that have emerged in recent years.

 

  • A coherent, updated treatment of the entire field
    Current principles, tools, techniques, and applications for both practitioners and students
  • Does technical analysis really work?
    The history of technical analysis and the latest assessments of its value
  • Identify specific investment opportunities and emerging trends
    Uncover promising securities, markets, shifts, and breakouts--and test your insights
  • Take advantage of the latest techniques and research
    Apply recent innovations, as well as new insights into classic methods

About the Author

Charles D. Kirkpatrick II, CMT, is

  • President, Kirkpatrick & Company, Inc., Kittery, Maine--a private firm specializing in technical research; editor and publisher of the Market Strategist newsletter.
  • Adjunct Professor of Finance, Brandeis University International School of Business, Waltham, Massachusetts.
  • Director and Vice President, Market Technicians Association Educational Foundation, Cambridge, Massachusetts--a charitable foundation dedicated to encouraging and providing educational courses in technical analysis at the college and university level.
  • Past editor, Journal of Technical Analysis, New York, New York--the official journal of technical analysis research.
  • Past director, Market Technicians Association, New York, New York--an association of professional technical analysts.

In his life in the stock and options markets, Mr. Kirkpatrick has been a hedge fund manager, investment advisor, advisor to floor and desk traders and portfolio managers, institutional stock broker, options trader, desk and large-block trader, lecturer and speaker on aspects of technical analysis to professional and academic groups, expert legal witness on the stock market, owner of several small businesses, owner of an institutional brokerage firm, and part owner of a CBOE options trading firm. His research has been published in Barron’s and elsewhere. In 1993 and 2001, he won the Charles H. Dow Award for excellence in technical research, and in 2009, he won the MTA award for his contributions to technical analysis. Educated at Phillips Exeter Academy, Harvard College (A.B.) and the Wharton School of the University of Pennsylvania (M.B.A.), he was also a decorated combat officer with the 1st Cavalry Division in Vietnam. He currently resides in Maine with his wife, Ellie, and their various domestic animals.

 

Julie R. Dahlquist, Ph.D., received her B.B.A. in economics from University of Louisiana at Monroe, her M.A. in Theology from St. Mary’s University, and her Ph.D. in economics from Texas A&M University. Currently, she is a senior lecturer, Department of Finance, at the University of Texas at San Antonio College of Business. Dr. Dahlquist is a frequent presenter at national and international conferences. She is the coauthor (with Richard Bauer) of Technical Market Indicators: Analysis and Performance (John Wiley & Sons). Her research has appeared in Financial Analysts Journal, Journal of Technical Analysis, Managerial Finance, Applied Economics, Working Money, Financial Practices and Education, Active Trader, and in the Journal of Financial Education. She serves on the Board of the Market Technicians Association Educational Foundation, on the editorial board of the Southwestern Business Administration Journal, and as a reviewer for a number of journals, including the Journal of Technical Analysis. She resides in San Antonio with her husband, Richard Bauer, and their two children, Katherine and Sepp.

 


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Customer Reviews

Most Helpful Customer Reviews
12 of 13 people found the following review helpful
3.0 out of 5 stars Pedantic and Dry, Mostly Impractical. 20 Feb 2010
Format:Hardcover|Verified Purchase
I bought this book based on some of the reviews here on Amazon. The book is very thoroughly researched, with many citations and scholarly references, but it's precisely this, which is problematic. The book seems to be written for academics, by academics. While it covers a broad range of technical analysis topics, as it is strongly focused on the literature, and on various measurement criteria validating or refuting the literature, it offers little to someone who is dealing with the dynamics of actual markets, and the price and volume movements of stocks. I don't mean to suggest the book is without value; it's just that you can read an entire passage on a topic, and realize that it could have been digested down to a few lines - the remainder is superfluous (from the perspective of one seeking 'practical knowledge' on technical analysis). I think there are general guides to technical analysis which are significantly better, and more geared to active investors, namely Edwards and MacGee's Technical Analysis of Stock Trends, and, Murphy's Technical Analysis of the Financial Markets. Both of these texts pre-date this text, and are established standards on this subject matter.
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3 of 3 people found the following review helpful
4.0 out of 5 stars Technically Complete / Fundamentally Inferior 23 July 2013
By Adam Finn TOP 500 REVIEWER
Format:Hardcover|Verified Purchase
Because of the amount of money that flows around the financial markets these days a lot of publishers and/or writers have seen the opportunity to try and sell the secret or reveal the truth. Trying to find a decent book in the field of finance really is like searching for a needle in a haystack; perhaps this is because the best wisdom in the industry is generally found on the job and not in the book!

There is an exception though: Technical Analysis - this is an academic discipline in its own right and deserves your attention if you cared at all about the financial markets and why/how they move. There are two general approaches to financial markets: (1) Fundamental (2) Technical - the tricky bit is that they are not both independent of each other. These books on technical analysis draw out the distinctions and then home in on why technical analysis is king.

In a nutshell: The price is the price!....

It doesn't matter how much all your models tell you that Gold (or whatever asset is/isn't should/shouldn't be in vogue now) if the market is buying/selling then you have to respect the flow of the river - and that is what technical analysis does; look at the flow, or more appropriately look for the TRENDS. It's just like following fashion. One key thing to learn about financial markets is that markets are not rational beings and the market does not follow the Efficient Market Hypothesis (EMH) - this is great news though, because with Technical Analysis you are armed with a toolbox to identify the flow of the river, jump in at the right time and then get out before the water runs dry.
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1 of 1 people found the following review helpful
4.0 out of 5 stars Well written 1 Oct 2009
Format:Hardcover
This is a comprehensive book for anyone wanting to learn Technical analysis. The language is easy but detailed.

Some knowledge of financial markets is needed to get the most out of it.

The book also serves as a constant reference.
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5 of 6 people found the following review helpful
4.0 out of 5 stars Comprehensive 6 April 2009
Format:Hardcover|Verified Purchase
Its an excellent compendium and a good point from which to go into a lot more depth. It gives statistical information that will help you understand the probabilites of a particular technical pattern making you money.

And whilst its been written by a technical analysis 'geek' - there is constant reference and guidence on what has the greateer probabilities of working in your favour.
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3 of 4 people found the following review helpful
5.0 out of 5 stars A very helpful guide 2 July 2009
Format:Hardcover
This book was like nothing else i have read on Tech.An. As a new trader i found that book to have amazing depth and detail about almost every aspect of the T.A A very "serious" book, and for me a guide for future trading techniques.
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