Are there Psychological Barriers in the Dow-Jones Index?

The popular press attaches particular significance to certain numerical values of the Dow-Jones index. These magic numbers are referred to as `resistance levels' or `psychological barriers.' We examine 38 years of closing values of this index to see if it is of any help in predicting future stock market returns.

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Year of publication:	1994-01-18
Authors:	Ley, Eduardo ; Varian, Hal R.
Institutions:	EconWPA
Subject:	Dow-Jones index \| psychological barriers \| resistance levels \| market efficiency

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Extent:	application/pdf
Series:	Finance.
Type of publication:	Book / Working Paper
Notes:	PDF, paper published in Applied Financial Economics, 1994.
Classification:	G00 - Financial Economics. General ; G1 - General Financial Markets ; C1 - Econometric and Statistical Methods: General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005561613