This is an explanation of Dow Theory development and an attempt to define its usefulness as an aid to speculation. Rhea carefully studied 252 editorials of Dow and Hamilton in order to present Dow Theory in terms that would be useful for the individual investor.
1. The Evolution of a Theory
2. The Dow Theory Which Hamilton Interpreted
3. Manipulation
4. The Averages Discount Everything
5. The Theory Is Not Infallible
6. Dow's Three Movements
7. Primary Movements
8. Primary Bear Markets
9. Primary Bull Markets
10. Secondary Reaction
11. Daily Fluctuations
12. Both Averages Must Confirm
13. Determining the Trend
14. Lines
15. The Relation of Volume to Price Movements
16. Double Tops and Double Bottoms
17. Individual Stocks
18. Speculation
19. Stock Market Philosophy
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