Are there psychological barriers in the Dow-Jones index?
- 1 June 1994
- journal article
- research article
- Published by Taylor & Francis in Applied Financial Economics
- Vol. 4 (3) , 217-224
- https://doi.org/10.1080/758526902
Abstract
The popular press attaches particular significance to certain numerical values of the Dow-Jones index. These magic numbers are referred to as ‘resistance levels’ or ‘psychological barriers’. In this note we examine 41 years of closing values of the Dow-Jones index to see if it is useful for predicting future stock market returns.Keywords
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This publication has 2 references indexed in Scilit:
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