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Technical Analysis Explained, Fifth Edition: The Successful Investor's Guide to Spotting Investment Trends and Turning Points, 5th Edition by Martin J. Pring

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4 TYPICAL PARAMETERS FOR INTERMEDIATE TRENDS

Some Basic Observations

The two previous chapters discussed the main or primary trend, i.e., the price movement that corresponds to changes in economic activity over the course of a typical 3- to 4-year business cycle. Though it is clearly important to have an idea of the direction and maturity of the primary trend, it is also helpful to have some understanding of the typical character and duration of the intermediate trend for the purpose of improving success rates in trading, and also to help assess when the primary movement may have run its course. This chapter focuses on intermediate trends in the U.S. stock market, but the principles outlined here apply to any freely traded entity.

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