Captain Dan, page-256

Apologies, I did not mean to question your knowledge, it’s just I have only used Dow Theory for US equities, where you have many indices. I first learnt it from Dickie Russell, he was a great man on the Industrials v the Transports. E and M you can use for all markets like EW. The guys at EWI say using EW for individual shares is not to be recommended. I first followed Prechter in the mid 80’s, and then an acquaintance in NZ started his own technical charting business which he has only just retired from, albeit we remain in contact and swap views in markets. He used EW and E and M, great man for Head and Shoulder patterns. It’s interesting that like all EW analysts he is saying that the main US markets are difficult to read at the moment.