Template-Type: ReDIF-Article 1.0
Author-Name: Sergey I. Tarakanov
Author-Email: fondr@gumf.ru
Author-Workplace-Name: State University of the Ministry of Finance of the Russia, Moscow, Russia
Title: «Invisible Hand» of the Market and Prices Movement
Abstract: The publication attempts to align the theoretical market movement provisions known as the Dow Theory with the “invisible hand of the market” concept introduced by A. Smith. Using the Russian stock market as an example the author established that these theoretical concepts do describe the reality. Despite the global financial crisis they are miraculously complied with by the financial markets. The article analyzes movement of the MICEX index and dynamics of certain most liquid Russian stocks.
Classification-JEL: D18, D43, D46
Keywords: «invisible hand», Dow Theory, wave movement, stock market, bull trend, impulse, correction
Journal: Finansovyj žhurnal — Financial Journal
Pages: 101-106
Issue: 1
Year: 2012
Month: January
File-URL: http://www.nifi.ru/images/FILES/Journal/Archive/2012/1/statii/2012_01_10.pdf
Handle: RePEc:fru:finjrn:120110:p:101-106