Has Dow Theory had its day?

Dow Theory has been around since the 19th century. But while the world has changed, the theory still stands, says Tim Bennett. Here, he explains why, and what it's telling investors now.

Get out of the American stockmarket. That's what many followers of Dow Theory, one of the oldest surviving market timing systems, believe you should do right now. Are they right?

What is Dow Theory?

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.