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Posted July 31, 2011
A Reference Manual for Technical Analysis
Ed Carlson has taken an obscure "market guru" from the '60's and '70's and researched the methodology of George Lindsay. By tracing his background doing design in the advertising industry, working on the Chicago Board of Trade, and then as an engineer with McDonnell Douglas during WWII, you develop an appreciation for the eclectic background which made Lindsay unique. Lindsay's notoriety peaked in the 1980's, when he predicted the bottom of the bear market in 1982 eight months beforehand. Before his death in August, 1987, he called a market top, which was followed by one of the biggest crashes in Wall Street history the following October. Carlson's research into the "how" of Lindsay's work was gathered from newsletters and correspondence. Lindsay focused on intervals of time. The pattern he labelled "Three Peaks and a Domed House" was the focus of his work, since he observed that this pattern could be found at 60% of bull market tops and at the peaks of rallies in bear markets. The book is a reference manual for technical analysis, with calculations and counts for 'floors, walls, roofs, separating declines', etc. Casual readers without a desire for detailed explanation and multiple interpretations of market chart patterns may get bogged down in much of the book. However, serious market technicians will find a trove of information, including historical dates and patterns, giving insight into why George Lindsay became one of the most accurate market forecasters of his day.
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Posted June 13, 2011
Curious to Read This
Jerry Favors was the acknowledged expert on George Lindsay's work. He understood Lindsay's "dense" writing style (by way of personal notes and documents) and made the 3 Peaks and Domed House indicator understandable to those who invested time learning about it. Hope your book does justice to Lindsay and his outstanding work.
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Posted June 4, 2012
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