Dow Theory - Accumulation and Distribution
Accumulation is marked by resource-rich participants accumulating the stock at lower levels when other participants are fearful
Distribution is marked by resource-rich participants de-liquidating the stock at higher levels when other participants are greedy
Easy HH HL Structure. Understanding basic market structure under Dow Theory. In Dow Theory, an uptrend is defined primarily as successively higher peaks and troughs. A downtrend is defined as successively lower peaks and troughs.