Abstract

http://ssrn.com/abstract=980583
 
 

References (13)



 
 

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Market Timing with Candlestick Technical Analysis


Ben R. Marshall


Massey University - Department of Economics and Finance

Martin R. Young


Massey University - School of Economics and Finance

Lawrence C. Rose


Massey University

April 16, 2007


Abstract:     
We investigate the profitability of the quantitative market timing technique of candlestick technical analysis in the U.S. equity market. Despite being used for centuries in Japan and now having a wide following amongst market practitioners globally, there is little research documenting its profitability or otherwise. We find that these strategies are not generally profitable when applied to large U.S. stocks. Basing trading decisions solely on these techniques does not seem sensible but we cannot rule out the possibility that they compliment some other market timing techniques.

Number of Pages in PDF File: 18

Keywords: Market Timing, Candlesticks, Technical Analysis, Quantitative Investment

JEL Classification: G12, G14

working papers series





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Date posted: April 16, 2007 ; Last revised: September 14, 2009

Suggested Citation

Marshall, Ben R. and Young, Martin R. and Rose, Lawrence C., Market Timing with Candlestick Technical Analysis (April 16, 2007). Available at SSRN: http://ssrn.com/abstract=980583 or http://dx.doi.org/10.2139/ssrn.980583

Contact Information

Ben R. Marshall (Contact Author)
Massey University - Department of Economics and Finance ( email )
Private Bag 11-222
Palmerston North, 30974
New Zealand
64 6 350 5799 (Phone)
64 6 350 5651 (Fax)
Martin R. Young
Massey University - School of Economics and Finance ( email )
Private Bag 11222
Palmerston North, 4442
New Zealand
Lawrence (Larry) Craig Rose
Massey University ( email )
Private Bag 102-904
North Shore Mail Centre
Auckland, 0745
New Zealand
+64 9 4140800, ex 9558 (Phone)
+64 9 441 8150 (Fax)
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