Dow Theory for the 21st Century

Dow Theory for the 21st Century includes everything that the serious investor needs to know about the stock market and how to become financially successful.

Praise for Dow Theory for the 21st Century

"Jack Schannep is simply the most accurate market timer I have ever known. I have read his commentaries religiously since 2002, and he has been right every step of the way. He perfectly called the market bottom in October 2002 and never wavered from his bullish stance until late in 2007. . . and again, he was 100% right to call an end to the five-year bull run. Jack's application of technical analysis in defining the primary trend of the market has been spot on."
-Stephen Reitmeister, Executive Vice President, Zacks Investment Research

"Jack Schannep is one of the finest Dow Theory analysts now practicing. This is easy to say in a time when praise is cheap. The real praise is that I rely on his work in my work."
-W. H. C. Bassetti, Adjunct Professor,

Finance and Economics, Golden Gate University; editor and coauthor, Technical Analysis of Stock Trends, Ninth Edition

"Dow Theory for the 21st Century offers individual investors a clear and practical approach to the big-trend (bull market-bear market) paradigm for long-term investing outperformance."
-Steve LeCompte, Managing Partner, The CXO Advisory Group

"If you want to understand the Dow Theory, this is the book to buy. Jack has done a superb job of not only researching the details of the Dow Theory, but in putting it in simple understandable language. In addition, he has done what readers really want-interpreted the theory to make money! His years of working with the Dow Theory give readers a unique edge in understanding one of the oldest stock strategies in existence."
-Dave Garrett, Principal, TimerTrac. com

"Updates and vastly improves the twentieth century's most famous trading strategy. Must reading for serious investors, market timers, technical analysts, and market professionals."
-Yale Hirsch and Jeffrey A. Hirsch, Stock Trader's Almanac

Acknowledgments ix
Introduction: The What and Why of this Book xi
Part I The Traditional Dow Theory
Chapter 1 By Way of Background 3
Chapter 2 Signals Described 17
Chapter 3 A Look at the Record 25
Chapter 4 Give-and-Take about the Theory 37
Part II Bulls and Bears
Chapter 5 Bull Markets 53
Chapter 6 Bear Markets 61
Chapter 7 Bull and Bear Markets of the Twentieth and Twenty-First Centuries 69
Part III The Dow Theory for the Twenty-First Century
Chapter 8 Capitulation: The Selling Climax 79
Chapter 9 The Heart of the Theory 97
Part IV Other Important Indicators
Chapter 10 Schannep Timing Indicator: The Other Major-Trend Indicator 123
Chapter 11 "Three Tops and a Tumble": Leading Topping Indicators 129
Chapter 12 Bonus Indicators 145
Part V The Epitome of Synergy
Chapter 13 The All-Inclusive Composite Indicator 169
Chapter 14 Practical Uses: Putting It All Together 177
Appendix A "Official" Complete and Detailed Record of the Original Dow Theory 183
Appendix B Capitulation Indicators Detailed Record 195
Appendix C CPA Verification of the Schannep Indicator 203
Appendix D Complete Record of the Composite Timing Indicator 207
About the Author 217
Index 219