In the 1920s, Richard Schabacker published several books on technical analysis, which developed the work of Charles Dow and Peter Hamilton in their books “Stock Market Theory” and “Technical Analysis of Markets.”

Finally, in 1948, Robert Edwards and John Magee published the legendary book “Technical Analysis of Stock Trends,” which is still being republished by Amacom and has taken pride of place in my electronic library.

Early technical analysis was based exclusively on graphical methods, since computers and statistics were, to put it mildly, strained. And Charles Dow – he actually started with point-tac-toe charts.

In the late 19th century, Charles Dow developed what was later called the “Dow Theory” and became the basis for modern technical analysis. The Dow Theory still works today, just as it did on day one. Ralph Nelson Elliott, William Gunn, Richard Wyckoff - all these guys at the beginning of the 20th century created something that is still used today. Over the past decades, many new technical tools and theories have appeared, because computer technology has accomplished incredible things.