One of our basic tenets in this system of technical stock chart analysis -- indeed, a fact which any neophyte can quickly verify for himself by inspection of the market records for whatever period he chooses -- is that prices move in trends. The market in general, and the many stocks which compose it, do not jump up and down in an altogether random fashion; on the contrary, they show definite organization and pattern in their charted course.
Prices move in trends.
Edwards and Magee, Technical Analysis of Stock Trends
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