While we will discuss and deepen all the tenets of the Dow Theory and apply them "life" to the markets, this blog is neither a primer nor a book on Dow Theory. Any reader interested in becoming conversant with Dow Theory is highly encouraged to passionately read the following books:
I would begin with this one. It is brief and clear. It is a great primer to Dow Theory written by Richard Russell the most famous Dow Theorist still alive to this day:
Dow Theory Today (Fraser Publishing Library) (The Contrary Opinion Library) [Paperback] Richard Russell (Author)
After having digested Russell’s book, I’d go on with the classical work on Dow Theory written in 1932.
The Dow Theory (Fraser Publishing Library) [Paperback] Robert Rhea (Author)
After Rhea’s book, and last, but definitely not least by any means, I’d continue with this one:
Dow Theory for the 21st Century: Technical Indicators for Improving Your Investment Results [Hardcover] Jack Schannep (Author)
Schannep’s book is definitely a great one and makes a wonderful job in presenting an updated version of the Dow Theory while respecting its essentials. It is written from a real investor to the real investor. It is a no-nonsense book
Anyone really interested in fully understanding Dow Theory should read at least three times each of the three books I have just mentioned.
Wikipedia does a pretty good job in giving us a cursory glimpse into Dow Theory.
While not enough to make you an outstanding Dow Theorist, Wikipedia may be helpful to give you a foretaste of the Dow Theory.
In another future post, for those with the time, passion and inclination for a deeper understanding of the Dow Theory, I will recommend some other books.
The Dow Theorist