7Upward-trending market, 219Upward trendlines, 24–29, 32, 37, 93, 95Upward trends, 19, 24–26, 29, 44, 47Upward wedge, 149–150Utilities, 267Value:in bull market, 267significance of, 6–7Value investing, 78V bottom formation, 154–156Volatility:adaptation to, 248–249balanced portfolios, 254–256correlations, 258–260extremes, 246–247, 249–251futures contracts, 256–257high, 250–251impact of, 2–3, 6, 15–16, 27, 41, 46, 91–94,97–98, 103, 120, 123, 127, 134, 136,141–142, 153, 159–160, 163–165, 182lognormal calculation, 246, 248measurement of, 243–245portfolio management strategies, 252–256principles of, 249risk management and, 251–252, 260–261theory of, 246Volatility table, 255Volume:accumulator (VA), 186–188, 191–192, 196basic principles of, 180–181in bull market, 268Dow Jones Theory, 269
extreme volume day, 197high-momentum trading, 211impact of, generally, 5, 142, 171, 180–182indicators, 185–192influential factors, 189–191interpretation examples, 182–183low-problem periods, 197on-balance (OBV), 185–188, 196oscillator, 185–186outliers, identification of, 191–192secondary reactions, 270–271spikes, 184–185, 191–192, 196, 231time of day and, 241–242volatility and, 182V top formations, 153–155Wal-Mart (WMT), 259Wall Street Journal, 16, 80, 193, 262Wave, defined, 264Wave Principle, The (Elliott), 176Weak rallies, 181Web sites:as information resource, 80paper-trading, 89Wedges:bottom patterns, 163characteristics of, 149–150top patterns, 163Weekly charts, 23, 30, 33Whole number trades, 176Wide-ranging days, 141–142, 151Wilder, Wells, 225XOM (Exxon-Mobile), 143, 151, 189–191
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