The Market Cycle Model

* A number of different Trends simultaneosly influence the price level of any Seurity.
* The Three most important Trends are Primary, Intermediate and  Short Term.
* The Principles of Technical analysis apply to Intraday Trends, but since they are more random in nature, the analysis is generally less reliable than for Longer-Term Trends.
* Very Long-Term or Secular, Trends influence the magnitude of primary Bull and Bear Trends.
* Peak-and- Tough   Progression is the most basic trend-indefication technique and is a basic building block of Technical Anaysis
* As a General rule, in order to qualify as a new legitimate peak or Trough, the Price should Retrace between One-Third and Two-Thirds of the Previous Move.
* Lines or Consolidations also qualify as peaks and Troughs where they form between one-thord and two-thirds of the time taken to produce the previous advance or decline.
* Bull Markets generally last longer than Bear Markets.