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CMT Level 1 - Sample Questions
Terms in this set (137)
Cycles are GENERALLY
Answer: b. Low to low
measured
a. High to low
Reference: Dahlquist, Julie R., and Charles D.
b. Low to low
Kirkpatrick. Technical Analysis: The Complete
c. High to high
Resource for Financial Market Technicians.
d. Either b or c
Chapter 19.
This cycle principle states as
Answer: b. Variation
stocks go through similar
cycles, the size and
Reference: Dahlquist, Julie R., and Charles D.
magnitude will differ.
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. Commonality
Chapter 19.
b. Variation
c. Summation
d. Proportionality
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In regards to cycle analysis,
Answer: c. Useful in checking where the trend
translation is:
direction is headed or if it is changing
a. Distance between troughs
Reference: Dahlquist, Julie R., and Charles D.
b. Distance between peaks
Kirkpatrick. Technical Analysis: The Complete
c. Useful in checking where
Resource for Financial Market Technicians.
the trend direction is headed
Chapter 19.
or if it is changing
d. To the left when the peak is
beyond the halfway point
Which would be the MOST
Answer: a. Phase
useful aspect of a cycle in
studying the relationship
Reference: Dahlquist, Julie R., and Charles D.
between cycles of different
Kirkpatrick. Technical Analysis: The Complete
lengths?
Resource for Financial Market Technicians.
Chapter 19.
a. Phase
b. Period
c. Amplitude
d. None of the above
A complete Elliott wave cycle
Answer: c. 8
is made up of how many
waves?
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. 5
Resource for Financial Market Technicians.
b. 3
Chapter 20.
c. 8
d. 13
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When analyzing long term
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Answer: b. Logarithmic chart
price movements, it could be
helpful to use which type of
Reference: Dahlquist, Julie R., and Charles D.
chart?
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. Candle chart
Chapter 11.
b. Logarithmic chart
c. Bar chart
d. Point and figure chart
In a normal 5-wave Elliott
Answer: a. 3rd
impulse wave, which wave is
USUALLY expected to be the
Reference: Dahlquist, Julie R., and Charles D.
longest and most dynamic?
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. 3rd
Chapter 20.
b. 5th
c. 1st
d. 1st but sometimes 3rd
Which of the following would
Answer: d. Flag
MOST likely be a continuation
pattern?
Reference: Edwards, Robert D. and Magee, John,
Technical Analysis of Stock Trends, 9th Edition.
a. Engulfing pattern
Chapter 11.
b. Head and shoulders
c. Double bottom
d. Flag
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Which of the following would
Answer: d. All the above are considered to be
NOT be considered a support
support levels
level?
Reference: Edwards, Robert D. and Magee, John,
a. Previous high
Technical Analysis of Stock Trends, 9th Edition.
b. Previous low
Chapter 13.
c. Trading range
d. All the above are
considered to be support
levels
According to Robert Rhea's
Answer: c. I, II, and III
hypotheses:
I. The primary trend is
Reference: Dahlquist, Julie R., and Charles D.
inviolate
Kirkpatrick. Technical Analysis: The Complete
II. The averages discount
Resource for Financial Market Technicians.
everything
Chapter 6.
III. Dow Theory is not infallible
IV. Dow Theory is predictable
a. I and II
b. I and III
c. I, II, and III
d. I, II, III, and IV
For a breakout or breakdown
Answer: c. Three-quarters
from a triangle to be
considered valid it should
Reference: Dahlquist, Julie R., and Charles D.
occur NO MORE than _______ of
Kirkpatrick. Technical Analysis: The Complete
the distance to the apex from
Resource for Financial Market Technicians.
the beginning of the pattern?
Chapter 15.
a. One-half
b. Two-thirds
c. Three-quarters
d. Five-sixths
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What is indicated when
Answer: d. A stock's volatility has decreased
Bollinger Bands narrow?
Reference: Dahlquist, Julie R., and Charles D.
a. A stock is ready for a rally
Kirkpatrick. Technical Analysis: The Complete
b. A stock is ready for a
Resource for Financial Market Technicians.
decline
Chapter 14.
c. A stock's volatility has
increased
d. A stock's volatility has
decreased
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Answer: d. Close
important price is the
Reference: Dahlquist, Julie R., and Charles D.
a. Open
Kirkpatrick. Technical Analysis: The Complete
b. High
Resource for Financial Market Technicians.
c. Low
Chapter 6.
d. Close
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Which is/are considered
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Answer: d. All the above
important in determining the
validity of a trendline break?
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Time
Resource for Financial Market Technicians.
b. Price
Chapter 13.
c. Volume
d. All of the above
Which BEST characterizes
Answer: a. There is sideways price action
continuation patterns?
Reference: Dahlquist, Julie R., and Charles D.
a. There is sideways price
Kirkpatrick. Technical Analysis: The Complete
action
Resource for Financial Market Technicians.
b. They take a long time to
Chapter 17.
form
c. They usually represent
long-term patterns
d. They signal the start of a
new trend
Which is NOT true of a buying
Answer: a. Prices fall sharply at first
climax?
Reference: Dahlquist, Julie R., and Charles D.
a. Prices fall sharply at first
Kirkpatrick. Technical Analysis: The Complete
b. Volume is very heavy
Resource for Financial Market Technicians.
c. The close is near the low
Chapter 15.
end of the daily range
d. Prices initially rise sharply
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In order for a Dow Theory sell
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Answer: d. b and c
signal to be confirmed
Reference: Dahlquist, Julie R., and Charles D.
a. The Dow Jones Industrials
Kirkpatrick. Technical Analysis: The Complete
(DJI) and the Dow Transports
Resource for Financial Market Technicians.
(DJT) must peak
Chapter 6.
simultaneously
b. The DJI and DJT must fail to
confirm at the highs
c. Both the DJI and DJT must
break below an important
intermediate term support
level
d. b and c
The Dow Theory uses ONLY
Answer: c. Closing prices
a. High prices
Reference: Dahlquist, Julie R., and Charles D.
b. Low prices
Kirkpatrick. Technical Analysis: The Complete
c. Closing prices
Resource for Financial Market Technicians.
d. All of the above
Chapter 6.
A company whose stock is in
Answer: b. Market discounting
a well-established uptrend
reports earnings slightly
Reference: Pring, Martin J. Technical Analysis
above consensus estimates.
Explained. Chapter 26.
After an initial rally, the stock
then ends lower on the day.
This would PROBABLY be an
example of...
a. Investor ennui
b. Market discounting
c. Unrealistic expectations
d. A short-coming of
fundamental analysis
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Point and figure charts are
Answer: b. Identifying areas of accumulation or
LEAST suited to
distribution
a. Establishing targets
Reference: du Plessis, Jeremy. The Definitive Guide
b. Identifying areas of
to Point and Figure. Chapter 1
accumulation or distribution
c. Identifying areas of support
and resistance
d. Identifying breakouts
In a doji candlestick
Answer: c. Supply and demand are in balance
a. Supply exceeds demand
Reference: Dahlquist, Julie R., and Charles D.
b. Demand exceeds supply
Kirkpatrick. Technical Analysis: The Complete
c. Supply and demand are in
Resource for Financial Market Technicians.
balance
Chapter 17.
d. All the above
Which of the following IS a
Answer: a. 50%
Fibonacci ratio?
Reference: Dahlquist, Julie R., and Charles D.
a. 50%
Kirkpatrick. Technical Analysis: The Complete
b. 75%
Resource for Financial Market Technicians.
c. 33%
Chapter 20.
d. 66%
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When using a moving average
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Answer: c. The fast falls below the slow
crossover system to generate
buy/sell signals, a SELL signal
Reference: Pring, Martin J. Technical Analysis
would be generated when
Explained. Chapter 9.
a. The slower moving average
falls below the faster average
b. The slow rises above the
fast
c. The fast falls below the
slow
d. Either a or c
Moving averages are of LEAST
Answer: a. A sideways trend
use in generating buy or sell
signals in
Reference: Pring, Martin J. Technical Analysis
Explained. Chapter 9.
a. A sideways trend
b. A moderately sloping
uptrend
c. A steep downtrend
d. Not especially useful in any
of them
A stock trades in a range
Answer: d. There would be no count
between 51 and 55 for 10 days
and then moves higher. If you
Reference: du Plessis, Jeremy. The Definitive Guide
have been charting the stock
to Point and Figure. Chapter 4.
with a 3 box reversal point
and figure chart, with 2 points
assigned per box, what would
the horizontal count be?
a. 30 points
b. 10 points
c. 60 points
d. There would be no count
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On balance volume is USEFUL
CMT Level 1 - Sample Questions Flashcards | Quizlet
Answer: d. All the above
to
Reference: du Plessis, Jeremy. The Definitive Guide
a. Confirm price
to Point and Figure. Chapter 4.
b. Spot divergence
c. Clarify volume trends
d. All the above
Common filters used to
Answer: d. All the above
confirm a trendline break
INCLUDE
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Penetration above/below
Resource for Financial Market Technicians.
the trendline by a set
Chapter 13.
percentage
b. A pre-defined period of
time during which prices stay
above/ below the trendline
c. A close above/below the
trendline
d. All the above
As a general rule, in
Answer: b. Decreases as the pattern develops
rectangle, triangle, flag and
pennant patterns, volume
Reference: Pring, Martin J. Technical Analysis
GENERALLY
Explained. Chapter 5.
a. Increases as the pattern
develops
b. Decreases as the pattern
develops
c. Stays constant as the
pattern develops
d. Shows signs of
accumulation
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Which type of gap is LEAST
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Answer: b. Breakaway
likely to be filled when it
occurs with high volume?
Reference: Pring, Martin J. Technical Analysis
Explained. Chapter 6.
a. Common
b. Breakaway
c. Exhaustion
d. Runaway
Which of the following
Answer: b. 45%
percentage parameters is
NOT a widely recognized
Reference: Dahlquist, Julie R., and Charles D.
percentage retracement?
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. 66%
Chapter 13.
b. 45%
c. 50%
d. 33%
What is intermarket analysis?
Answer: a. Study of the interrelationships between
the various independent financial markets
a. Study of the
interrelationships between the
Reference: Dahlquist, Julie R., and Charles D.
various independent financial
Kirkpatrick. Technical Analysis: The Complete
markets
Resource for Financial Market Technicians.
b. Study of the internals of the
Chapter 21.
various financial markets
c. Study of the various
international financial markets
and how they influence each
other
d. None of the above
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The secondary trend is
Answer: b. Weeks or months; weeks or months
measured in __________, and the
intermediate trend is
Reference: Dahlquist, Julie R., and Charles D.
measured in __________.
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. Months or years; days or
Chapter 6.
weeks
b. Weeks or months; weeks or
months
c. Days or weeks; intraday
minutes
d. Intraday minutes; weeks
and months
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How would you use relative
Answer: c. Divide the price of one sector by an
strength analysis when
industry benchmark and compare
comparing sectors?
Reference: Dahlquist, Julie R., and Charles D.
a. Compare RSIs - the higher
Kirkpatrick. Technical Analysis: The Complete
the number, the more bullish
Resource for Financial Market Technicians.
the sector
Chapter 21.
b. Divide the price of one
sector by another and
compare
c. Divide the price of one
sector by an industry
benchmark and compare
d. We don't compare sectors,
we compare industry groups
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To INCREASE the sensitivity
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Answer: b. Decrease the box size
of a 5 x 3 point and figure
chart, one would
Reference: du Plessis, Jeremy. The Definitive Guide
to Point and Figure. Chapter 2.
a. Increase the box size
b. Decrease the box size
c. Increase the number of
boxes needed for a reversal
d. Both a and c
In point and figure charting,
Answer: a. One box reversal chart
the ability to obtain price
objectives through use of the
Reference: du Plessis, Jeremy. The Definitive Guide
horizontal count is a principal
to Point and Figure. Chapter 4.
advantage of the
a. One box reversal chart
b. Three box reversal chart
c. Five box reversal chart
d. All of the above
In what charting technique
Answer: d. Simplified three box point and figure
will trendlines ONLY be drawn
charts
at 45 degree angles?
Reference: du Plessis, Jeremy. The Definitive Guide
a. Bar charts
to Point and Figure. Chapter 3.
b. Candlestick charts
c. Swing charts
d. Simplified three box point
and figure charts
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What pattern is found in point
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Answer: b. Head and shoulders
and figure charts?
Reference: du Plessis, Jeremy. The Definitive Guide
a. Doji
to Point and Figure. Chapter 4.
b. Head and shoulders
c. Island reversal
d. All of the above
Using intraday 1x1 point and
Answer: c. A breakout from a 15 column
figure charts, which breakout
congestion zone
is MOST significant?
Reference: du Plessis, Jeremy. The Definitive Guide
a. A breakout from a 5 column
to Point and Figure. Chapter 1.
congestion zone
b. A breakout from a 10
column congestion zone
c. A breakout from a 15
column congestion zone
d. The breakouts are of equal
significance
Cycles are USUALLY
Answer: b. Trough to trough
measured from
Reference: Dahlquist, Julie R., and Charles D.
a. Crest to crest
Kirkpatrick. Technical Analysis: The Complete
b. Trough to trough
Resource for Financial Market Technicians.
c. Wheel to wheel
Chapter 19.
d. Curl to curl
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The following is NOT common
Answer: c. Tops usually take longer to form than
of reversal patterns
bottoms
a. The existence of a prior
Reference: Edwards, Robert D. and Magee, John,
trend
Technical Analysis of Stock Trends, 9th Edition.
b. The larger the pattern the
Chapter 6.
greater the subsequent move
c. Tops usually take longer to
form than bottoms
d. The break of a major
trendline
An inverse head and
Answer: c. A reversal pattern
shoulders pattern is
Reference: Edwards, Robert D. and Magee, John,
a. A topping pattern
Technical Analysis of Stock Trends, 9th Edition.
b. Generally unreliable
Chapter 6.
c. A reversal pattern
d. a and b
The MAXIMUM objective of
Answer: d. 100% retracement
reversal patterns is
Reference: Edwards, Robert D. and Magee, John,
a. 50% retracement
Technical Analysis of Stock Trends, 9th Edition.
b. 66% retracement
Chapter 6.
c. .618 of the current price
d. 100% retracement
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Which is TRUE of double tops
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Answer: d. Height is often used as a measuring
objective
a. There are two identifiable
peaks at very different price
Reference: Pring, Martin J. Technical Analysis
levels
Explained. Chapter 5.
b. Volume is lighter during the
first peak
c. They often occur at market
bottoms
d. Height is often used as a
measuring objective
Which of the following
Answer: a. An investor invests the same dollar
describes an equally
amount in each security
weighted average?
Reference: Dahlquist, Julie R., and Charles D.
a. An investor invests the same
Kirkpatrick. Technical Analysis: The Complete
dollar amount in each security
Resource for Financial Market Technicians.
b. Is adjusted by a divisor
Chapter 5.
c. Considers the market
capitalization of each security
in the average
d. Is the way the Dow Jones
Industrial Average is
calculated
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A REASONABLE price
Answer: c. Equivalent to the distance between the
objective once a stock has
head and neckline
completed a head and
shoulders pattern is
Reference: Edwards, Robert D. and Magee, John.
Technical Analysis of Stock Trends, 9th
a. 100% of the previous trend
Edition.Chapter 6.
b. Derived using the Fibonacci
Ratio
c. Equivalent to the distance
between the head and
neckline
d. Depends on the action of
the accompanying volume
A continuation pattern is
Answer d. All of the above
a. A pause in the prevailing
Reference: Dahlquist, Julie R., and Charles D.
trend
Kirkpatrick. Technical Analysis: The Complete
b. Usually a sideways price
Resource for Financial Market Technicians.
action
Chapter 15
c. Usually a near term or
intermediate term pattern
d. All of the above
A symmetrical triangle is
Answer d. All of the above
a. Also called a coil
Reference: Dahlquist, Julie R., and Charles D.
b. Usually a continuation
Kirkpatrick. Technical Analysis: The Complete
pattern
Resource for Financial Market Technicians.
c. A temporary pause in the
Chapter 15
existing trend
d. All of the above
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The apex of a triangular
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Answer d. All of the above
pattern is
Reference: Dahlquist, Julie R., and Charles D.
a. The point where two lines
Kirkpatrick. Technical Analysis: The Complete
meet
Resource for Financial Market Technicians.
b. A point that helps to time
Chapter 15
and measure the potency of
the pattern
c. An important support or
resistance level after the
breakout occurs
d. All of the above
Volume should diminish
Answer a. True
during the price swings within
a triangular pattern
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. True
Resource for Financial Market Technicians.
b. False
Chapter 15
c. Sometimes
d. Only on the downside
swings
The breakout from a triangle
Answer: d. All of the above
formation
Reference: Dahlquist, Julie R., and Charles D.
a. Should take place with a
Kirkpatrick. Technical Analysis: The Complete
sharp increase in volume
Resource for Financial Market Technicians.
b. Should take place between
Chapter 15
two-thirds to three-fourths of
the way through the pattern
c. Is a price level that
immediately becomes
support/resistance
d. All of the above
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The descending triangle is just
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Answer d. b and c
a mirror image of the
ascending triangle and is
Reference: Dahlquist, Julie R., and Charles D.
generally considered a ______
Kirkpatrick. Technical Analysis: The Complete
pattern
Resource for Financial Market Technicians.
Chapter 15
a. Bullish
b. Bearish
c. Continuation
d. b and c
All of the following are true of
Answer d. They are reversal patterns
flag and pennant patterns
EXCEPT
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. They are short term
Resource for Financial Market Technicians.
patterns completed in one to
Chapter 5
two weeks
b. They are preceded by
sharp and nearly straight line
moves
c. They are characterized by a
decrease of volume during
the formation of the pattern
d. They are reversal patterns
The measuring technique for
Answer b. Height
MOST continuation patterns
implies that a price objective
Reference: Pring, Martin J. Technical Analysis
from the breakout point is
Explained. Chapter 5
equal to the ____ of the pattern
at its broadest point
a. Width
b. Height
c. None of the above
d. 100% of prior trend
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The reversal pattern that can
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Answer b. Head and shoulders
also appear as a continuation
pattern is
Reference: Edwards, Robert D. and Magee, John.
Technical Analysis of Stock Trends, 9th Edition.
a. Saucer
Chapter 6
b. Head and shoulders
c. Spike
d. Double top
Stock traders rely heavily on
Answer d. b and c
a. 4 and 92 day moving
Reference: Pring, Martin J. Technical Analysis
averages
Explained. Chapter 9. Dahlquist, Julie R., and
b. 50 and 200 day moving
Charles D. Kirkpatrick. Technical Analysis: The
averages
Complete Resource for Financial Market
c. 30 and 40 week moving
Technicians. Chapter 14
averages
d. b and c
A Channel breakout system
Answer: d. a and c
works extremely well in
Reference: Dahlquist, Julie R., and Charles D.
a. Trending markets
Kirkpatrick. Technical Analysis: The Complete
b. Non-trending markets
Resource for Financial Market Technicians.
c. Daily and weekly charts and
Chapter 12
monthly charts
d. a and c
The moving average
Answer: d. All of the above
a. Follows the trend
Reference: Dahlquist, Julie R., and Charles D.
b. Is a smoothing device
Kirkpatrick. Technical Analysis: The Complete
c. Lags market action
Resource for Financial Market Technicians.
d. All of the above
Chapter 14
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The "crossover method" refers
Answer c. A buy or sell signal generated when a
to
shorter moving average
crosses a longer moving average
a. Buying the same security
high and selling it low twice in
Reference: Dahlquist, Julie R., and Charles D.
the same day
Kirkpatrick. Technical Analysis: The Complete
b. Taking the buy/sell
Resource for Financial Market Technicians.
recommendations of a
Chapter 14
fundamental analyst
c. A buy or sell signal
generated when a shorter
moving average
crosses a longer moving
average
d. a and b
The most commonly used
Answer d. Close
price to calculate the moving
average is the
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. High
Resource for Financial Market Technicians.
b. Low
Chapter 14
c. Midpoint
d. Close
In a 10-day simple moving
Answer c. 10%
average, each day's price is
assigned a weighting of
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. 1%
Resource for Financial Market Technicians.
b. 5%
Chapter 14
c. 10%
d. 20%
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Which moving average(s)
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Answer d. b and c
assign GREATER weight to the
most recent data?
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Simple
Resource for Financial Market Technicians.
b. Weighted
Chapter 14
c. Exponential
d. b and c
Longer-term moving averages
Answer d. a and c
a. Give fewer buy and sell
Reference: Dahlquist, Julie R., and Charles D.
signals
Kirkpatrick. Technical Analysis: The Complete
b. Are better at giving signals
Resource for Financial Market Technicians.
at major tops
Chapter 14
c. "Give back" a lot more when
the trend reverses
d. a and c
Shorter moving averages
Answer a. Produce more trades
a. Produce more trades
Reference: Dahlquist, Julie R., and Charles D.
b. Produce fewer whipsaws
Kirkpatrick. Technical Analysis: The Complete
c. a and b
Resource for Financial Market Technicians.
d. None of the above
Chapter 14
To help confirm a price trend,
Answer c. In the direction of the trend
volume should expand
Reference: Pring, Martin J. Technical Analysis
a. On a reversal day
Explained. Chapter 5
b. On a strong close
c. In the direction of the trend
d. When a price target is met
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Volume divergence occurs
Answer c. A new high in an uptrend takes place on
when
declining volume
a. Volume expands while
Reference: Pring, Martin J. Technical Analysis
open interest contracts
Explained. Chapter 23
b. Volume expands while the
daily trading range contracts
c. A new high in an uptrend
takes place on declining
volume
d. Volume declines during a
sideways congestion pattern
On a head and shoulders top,
Answer b. Light volume
the "head" is typically made
on
Reference: Edwards, Robert D. and Magee, John.
Technical Analysis of Stock Trends, 9th Edition.
a. Active volume
Chapter 6
b. Light volume
c. Breakout volume
d. Normal volume
Volume in a head and
Answer d. During the left shoulder
shoulders pattern is HIGHEST
where?
Reference: Edwards, Robert D. and Magee, John.
Technical Analysis of Stock Trends, 9th Edition.
a. At the top of the head
Chapter 6
b. At the completion of the
head
c. During the right shoulder
d. During the left shoulder
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Triangle price patterns should
Answer c. A gradual drop-off in volume until the
be accompanied by
breakout
a. Active volume within the
Reference: Dahlquist, Julie R., and Charles D.
pattern
Kirkpatrick. Technical Analysis: The Complete
b. Heavier volume in the
Resource for Financial Market Technicians.
direction of the eventual
Chapter 15
breakout
c. A gradual drop-off in
volume until the breakout
d. No discernible difference in
volume until after the
breakout occurs
Technicians believe that
Answer b. Volume precedes price
a. Price precedes volume
Reference: Pring, Martin J. Technical Analysis
b. Volume precedes price
Explained. Chapter 5
c. Volume and price are
typically coincident indicators
d. Volume matters most
during breakouts
Open interest is
Answer: b. The number of outstanding contracts in
any given day
a. The number of contracts
traded in a day
Reference: Dahlquist, Julie R., and Charles D.
b. The number of outstanding
Kirkpatrick. Technical Analysis: The Complete
contracts in any given day
Resource for Financial Market Technicians.
c. The sum of total volume
Chapter 18
and open interest
d. None of the above
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The primary use of
Answer c. Strengthen the possibility of a reversal
candlestick patterns is to
or continuation of a price trend
a. Define the intermediate and
Reference: Dahlquist, Julie R., and Charles D.
short-term trends, but not the
Kirkpatrick. Technical Analysis: The Complete
primary trend
Resource for Financial Market Technicians.
b. Define the primary,
Chapter 17
intermediate, and short-term
trends
c. Strengthen the possibility of
a reversal or continuation of a
price trend
d. Determine if you are in a
bull market or a bear market
Which is an example of
Answer c. Using western techniques to confirm a
candle pattern filtering?
candle pattern
a. Accepting only those
Reference: Dahlquist, Julie R., and Charles D.
patterns that fit the strict
Kirkpatrick. Technical Analysis: The Complete
definition of their pattern
Resource for Financial Market Technicians.
b. Accepting only those
Chapter 11
patterns that are confirmed
by the intermediate trend
c. Using western techniques
to confirm a candle pattern
d. Using cycles to confirm the
existence of a pattern
Which tools could you use in
Answer c. RSI and MACD
candle pattern filtering?
Reference: Dahlquist, Julie R., and Charles D.
a. Cycles
Kirkpatrick. Technical Analysis: The Complete
b. Point and Figure chart
Resource for Financial Market Technicians.
c. RSI and MACD
Chapter 17
d. Dow Theory
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The analysis of cycles
CMT Level 1 - Sample Questions Flashcards | Quizlet
Answer b. An indication of time duration of a trend
provides
Reference: Pring, Martin J. Technical Analysis
a. An objective determination
Explained. Chapter 21
of trend reversal
b. An indication of time
duration of a trend
c. Relative strength of related
price indices
d. An approximation of price
support
For a futures contract, daily
Answer c. The number of contracts traded during
volume represents
the day
a. The dollar volume of the
Reference: Dahlquist, Julie R., and Charles D.
contracts traded
Kirkpatrick. Technical Analysis: The Complete
b. The cumulative price
Resource for Financial Market Technicians.
change for the day
Chapter 18
c. The number of contracts
traded during the day
d. The open interest at the
end of the day
Flow of fund analysis relies in
Answer: d. On measuring the cash position of
part
different investor groups
a. On the sentiment of
Reference: Dahlquist, Julie R., and Charles D.
investment advisory services
Kirkpatrick. Technical Analysis: The Complete
b. On monthly price
Resource for Financial Market Technicians.
movements of the Dow Jones
Chapter 10
Industrial Average
c. On market volume statistics
d. On measuring the cash
position of different investor
groups
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A momentum index measures
Answer c. The rate of change of prices
a. Investor sentiment
Reference: Dahlquist, Julie R., and Charles D.
b. Investor psychology
Kirkpatrick. Technical Analysis: The Complete
c. The rate of change of
Resource for Financial Market Technicians.
prices
Chapter 18
d. Absolute volume level
The simple moving average
Answer a. Gives equal weight to each periods
price
a. Gives equal weight to each
periods price
Reference: Dahlquist, Julie R., and Charles D.
b. Gives greater weight to the
Kirkpatrick. Technical Analysis: The Complete
more recent price
Resource for Financial Market Technicians.
c. Assigns greater weight to
Chapter 14
more recent data and
includes all of the data in the
life of the instrument
d. None of the above
The objective of the Dow
Answer c. The primary direction of the stock
Theory is to determine
market
a. Changes in market
Reference: Dahlquist, Julie R., and Charles D.
psychology
Kirkpatrick. Technical Analysis: The Complete
b. The likelihood of volume
Resource for Financial Market Technicians.
reversals
Chapter 6
c. The primary direction of the
stock market
d. Timing of market bottoms
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Oscillators are normally used
Answer: a. Identify overbought or oversold market
to
conditions
a. Identify overbought or
Reference: Dahlquist, Julie R., and Charles D.
oversold market conditions
Kirkpatrick. Technical Analysis: The Complete
b. Identify price/volume
Resource for Financial Market Technicians.
divergences
Chapters 8 and 18
c. Identify Elliott Wave cycles
d. Gauge differentials
between buyers and sellers
Relative strength analysis, as
Answer c. Changes in security prices in relation to
applied in equity analysis
other security prices, group price indices or
relates
market action
a. Volume changes to price
Reference: Dahlquist, Julie R., and Charles D.
changes
Kirkpatrick. Technical Analysis: The Complete
b. Unsophisticated investor
Resource for Financial Market Technicians.
behavior to price cycles
Chapter 18
c. Changes in security prices
in relation to other security
prices, group price indices or
market action
d. Rate of price change of 4,
13 and 42 weeks
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The resistance level of a price
Answer b. The level over the market where selling
trend refers to
pressure is
sufficiently strong to overcome buying pressure
a. The level under the market
and a price
where buying interest is
advance is expected to be turned back
sufficiently strong to
overcome selling pressure
Reference: Dahlquist, Julie R., and Charles D.
b. The level over the market
Kirkpatrick. Technical Analysis: The Complete
where selling pressure is
Resource for Financial Market Technicians.
sufficiently strong to
Chapter 12
overcome buying pressure
and a price advance is
expected to be turned back
c. The boundaries of the
trading range of the trend
d. The target price indicated
by the count
To measure an overbought or
Answer d. Look for price and volume divergences
oversold market level, a
technical analyst would
Reference: Dahlquist, Julie R., and Charles D.
normally
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. Look for moving average
Chapter 18
crossovers
b. Look for a series of
exhaustion gaps
c. Use one or more price
oscillators
d. Look for price and volume
divergences
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Accumulation normally
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Answer a. Near a market bottom
occurs
Reference: Pring, Martin J. Technical Analysis
a. Near a market bottom
Explained. Chapter 5
b. Near a market top
c. In declining markets
d. After a completed trading
range
The Kondratieff cycle extends
Answer d. 54 years
for a period of about
Reference: Dahlquist, Julie R., and Charles D.
a. 13 weeks
Kirkpatrick. Technical Analysis: The Complete
b. 13 years
Resource for Financial Market Technicians.
c. 54 weeks
Chapter 19
d. 54 years
The Public/Specialist Short
Answer: a. Shows the difference between
Sales Ratio is used as a tool
sophisticated money and unsophisticated money
that
Reference: Pring, Martin J. Technical Analysis
a. Shows the difference
Explained. Chapter 26
between sophisticated money
and unsophisticated money
b. Shows the growth in money
flow produced by NYSE
specialists
c. Measures contrary opinion
d. Has become obsolete due
to derivative product trading
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Blow-offs are identified
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Answer b. By observing a sharp rally in prices after
a long advance accompanied by a sharp increase
a. Near market bottoms
in trading activity
b. By observing a sharp rally
in prices after a long advance
Reference: Edwards, Robert D. and Magee, John.
accompanied by a sharp
Technical Analysis of Stock Trends, 9th
increase in trading activity
Edition.Chapter 10.1
c. By observing a sudden
sharp drop in prices after a
long decline accompanied by
heavy trading activity
d. Using techniques of cycle
analysis
A selling climax
Answer b. Typically occurs at a market bottom
a. Typically occurs at a market
Reference: Edwards, Robert D. and Magee, John.
top
Technical Analysis of Stock Trends, 9th
b. Typically occurs at a market
Edition.Chapter 10.
bottom
c. Is accompanied by average
to low volume
d. Indicates new shorts
getting trapped at the bottom
A breakaway gap usually
Answer: b. Signals the beginning of an important
price move
a. Occurs during the
accumulation phase of a
Reference: Edwards, Robert D. and Magee, John.
market cycle
Technical Analysis of Stock Trends, 9th
b. Signals the beginning of an
Edition.Chapter 12
important price move
c. Provides a major
divergence signal
d. Occurs at the end of an
important price move
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Price cycles are normally
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Answer d. All of the above
measured by
Reference: Pring, Martin J. Technical Analysis
a. Their amplitude
Explained. Chapter 21
b. Their period
c. Their phase
d. All of the above
During a consolidation, price
Answer b. Moves within well defined neutral
action normally
boundaries on moderate or less than moderate
volume
a. Reverses decisively in one
direction on heavy volume
Reference: Edwards, Robert D. and Magee, John.
b. Moves within well defined
Technical Analysis of Stock Trends, 9th Edition.
neutral boundaries on
Chapters 8 & 9
moderate or less than
moderate volume
c. Retraces one third of its
previous price movement
d. Diverges from volume
Contrary opinion is usually
Answer c. Considered to be a gauge of investor
psychology
a. Ignored
b. Measured by observing
Reference: Pring, Martin J. Technical Analysis
price cycles and volume
Explained. Chapter 26
patterns
c. Considered to be a gauge
of investor psychology
d. A bullish indicator
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Moving average crossovers
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Answer a. Buy and sell signals
can be used to indicate
Reference: Pring, Martin J. Technical Analysis
a. Buy and sell signals
Explained. Chapter 9
b. Positive relative strength
c. Negative volume
d. Trend divergence
Which of the following can be
Answer d. All of the above
considered a sentiment
indicator
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Specialist Short Sales Ratio
Resource for Financial Market Technicians Chapter
b. Mutual Fund Cash/Asset
12
Ratio
c. Odd Lot Purchase/Sales
Ratio
d. All of the above
Speed resistance lines
Answer d. All of the above
a. Divide a trend in thirds
Reference: Edwards, Robert D. and Magee, John.
b. Measure the rate of ascent
Technical Analysis of Stock Trends, 9th Edition.
or descent of a trend
Chapter 12
c. Are used to measure
percentage retracements
d. All of the above
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An exhaustion gap is
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Answer c. Near the end of a major price move
observed
Reference: Dahlquist, Julie R., and Charles D.
a. In the beginning stage of a
Kirkpatrick. Technical Analysis: The Complete
bear market
Resource for Financial Market Technicians.
b. After prices have moved
Chapter 11
sideways for an extended
period of time
c. Near the end of a major
price move
d. With light trading volume
On a daily bar chart
Answer d. All of the above
a. Each day's price action is
Reference: Pring, Martin J. Technical Analysis
represented by a vertical bar;
Explained. Chapter 10
the daily high, low and close
are plotted
b. Prices are plotted vertically,
time horizontally
c. The price scale may be
either arithmetic or
logarithmic
d. All of the above
An appropriate time interval
Answer c. Monthly
selection for a bar chart which
is designed to show very
Reference: Dahlquist, Julie R., and Charles D.
long-term trends would be
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. Daily
Chapter 23
b. Weekly
c. Monthly
d. Annually
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Risk can be defined as:
Answer d. All of the above
a. Variability of returns
Reference: du Plessis, Jeremy. The Definitive Guide
b. Amount of loss per trade
to Point and Figure. Chapter 2
c. Beta
d. All of the above
A point & figure chart
Answer a. A new plot on a point and figure chart is
DIFFERS from a bar chart as
made only when the price changes by a given
amount
a. A new plot on a point and
figure chart is made only
Reference: du Plessis, Jeremy. The Definitive Guide
when the price changes by a
to Point and Figure. Chapter 2
given amount
b. Time intervals are clearly
shown in a point and figure
chart
c. Point and figure charts are
only concerned with
measuring price momentum
d. A new plot on a bar chart is
made only when the price
changes by a given amount
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In constructing a point and
Answer b. The price has moved by equal to or
figure chart, a new box is
more than the specified box size
added ONLY when
Reference: du Plessis, Jeremy. The Definitive Guide
a. The price has moved by
to Point and Figure. Chapter 2
less than the specified box
size
b. The price has moved by
equal to or more than the
specified box size
c. The volume confirms the
price movement
d. The price has moved to a
new high
As the price unit of a reversal
Answer c. The detail of price movement
on a point and figure chart is
graphically displayed is increased
decreased
Reference: Dahlquist, Julie R., and Charles D.
a. Time analysis becomes
Kirkpatrick. Technical Analysis: The Complete
more critical for interpretation
Resource for Financial Market Technicians.
b. The detail of price
Chapter 17
movement graphically
displayed is decreased
c. The detail of price
movement graphically
displayed is increased
d. The possibility of whipsaws
decreases
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The body of the candlestick
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Answer d. The current session's open and close
line displays the relationship
between:
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. The current session's high
Resource for Financial Market Technicians.
and low
Chapter 17
b. The current session's close
and the prior session's close
c. The current session's open
and high
d. The current session's open
and close
The basic concept behind the
Answer d. A trend in motion will remain in motion
use of a trendline is that
until it reverses
a. Price and volume tend to
Reference: Dahlquist, Julie R., and Charles D.
confirm each other
Kirkpatrick. Technical Analysis: The Complete
b. Prices rise and fall in
Resource for Financial Market Technicians.
cyclical patterns
Chapter 2
c. Prices follow a natural
rhythm
d. A trend in motion will
remain in motion until it
reverses
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Technical analysts generally
Answer b. A price close beyond the trendline is
believe
more significant than an intra-day penetration
a. That trendline analysis
Reference: Dahlquist, Julie R., and Charles D.
cannot be applied to point
Kirkpatrick. Technical Analysis: The Complete
and figure charts
Resource for Financial Market Technicians.
b. A price close beyond the
Chapter 2
trendline is more significant
than an intra-day penetration
c. Trendlines are useful for
validation of price gaps
d. Price whipsaws can be
avoided using trendlines
In a head and shoulders
Answer c. Decreases with each successive peak
pattern, volume usually
Reference: Dahlquist, Julie R., and Charles D.
a. Is greatest in the middle leg
Kirkpatrick. Technical Analysis: The Complete
b. Increases with each
Resource for Financial Market Technicians.
successive peak
Chapter 15
c. Decreases with each
successive peak
d. Is constant throughout the
pattern
A simple moving average is
Answer c. Equal weight is given to each point
often criticized because
included in the calculation
a. The most recent events are
Reference: Pring, Martin J. Technical Analysis
given extra weight
Explained. Chapter 9
b. The entire price time series
is used in its calculation
c. Equal weight is given to
each point included in the
calculation
d. It is difficult to calculate
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An exponentially smoothed
Answer b. Gives more weight to more recent
moving average
observations
a. Excludes older price points
Reference: Pring, Martin J. Technical Analysis
in the calculation
Explained. Chapter 9
b. Gives more weight to more
recent observations
c. Cannot be plotted on a bar
chart
d. None of the above
Oscillators are used to alert
Answer d. Overbought or oversold price
the analyst to
conditions
a. Volume divergences
Reference: Dahlquist, Julie R., and Charles D.
b. Continuation patterns
Kirkpatrick. Technical Analysis: The Complete
c. Extended rallies
Resource for Financial Market Technicians.
d. Overbought or oversold
Chapters 8 and 18
price conditions
All the following are
Answer a. Advance/decline line
momentum oscillators
EXCEPT
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Advance/decline line
Resource for Financial Market Technicians.
b. Relative Strength Index
Chapter 18
(RSI)
c. Stochastics
d. Moving Average
Convergence/Divergence
(MACD)
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Most oscillators are
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Answer a. So that the mid-point goes through zero
constructed
Reference: Dahlquist, Julie R., and Charles D.
a. So that the mid-point goes
Kirkpatrick. Technical Analysis: The Complete
through zero
Resource for Financial Market Technicians.
b. On a semi-logscale to
Chapter 18
highlight momentum
c. So that all points are
positive in value
d. Without an upper boundary
Oscillators are MOST helpful
Answer d. Non-trending markets where prices
to gauge price behavior in
fluctuate in a well defined trading range
a. Sharply rising markets
Reference: Dahlquist, Julie R., and Charles D.
b. Sharply falling markets
Kirkpatrick. Technical Analysis: The Complete
c. Sharply rising and sharply
Resource for Financial Market Technicians.
falling markets
Chapter 18
d. Non-trending markets
where prices fluctuate in a
well defined trading range
Oscillators are MOST valuable
Answer c. Their value reaches an extreme reading
when
near the upper or lower end of their boundaries
a. They are confirmed by
Reference: Dahlquist, Julie R., and Charles D.
relative strength measures
Kirkpatrick. Technical Analysis: The Complete
b. They are accelerating in
Resource for Financial Market Technicians.
trend
Chapter 18
c. Their value reaches an
extreme reading near the
upper or lower end of their
boundaries
d. Evaluated using multiple
moving averages
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A typical momentum index is
Answer a. Plotting the change in price between
constructed by
the beginning and end of a time interval
a. Plotting the change in price
Reference: Dahlquist, Julie R., and Charles D.
between the beginning and
Kirkpatrick. Technical Analysis: The Complete
end of a time interval
Resource for Financial Market Technicians.
b. Plotting the difference in
Chapter 18
volume between the daily
high price and the daily low
price
c. Plotting cumulative price
between two points
d. Connecting the boxes on a
point and figure chart
Violated support levels
Answer c. Become resistance levels on price
typically
bounces
a. Become support levels as
Reference: Dahlquist, Julie R., and Charles D.
prices fall lower
Kirkpatrick. Technical Analysis: The Complete
b. Are associated with
Resource for Financial Market Technicians.
declining price projections
Chapter 12
c. Become resistance levels
on price bounces
d. Indicate an imminent price
reversal
As with trendlines, speed
Answer d. Reverse roles once they are broken
resistance lines
Reference: Dahlquist, Julie R., and Charles D.
a. Can be used in conjunction
Kirkpatrick. Technical Analysis: The Complete
with sentiment indicators
Resource for Financial Market Technicians.
b. Indicate the potential for
Chapter 12
immediate price reversals
c. Must be confirmed with
volume
d. Reverse roles once they are
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Which pairs are not similar?
Answer c. MACD = ROC
a. Stochastics = Williams
Reference: Dahlquist, Julie R., and Charles D.
b. RSI = MACD
Kirkpatrick. Technical Analysis: The Complete
c. MACD = ROC
Resource for Financial Market Technicians.
d. None are similar
Chapter 18
A rising relative strength line
Answer c. That the stock is performing better than
for a stock in a falling market
the market
indicates
Reference: Dahlquist, Julie R., and Charles D.
a. That price and volume are
Kirkpatrick. Technical Analysis: The Complete
diverging
Resource for Financial Market Technicians.
b. That the stock is performing
Chapter 21
worse than the market
c. That the stock is performing
better than the market
d. That the stock's price is
rising despite the falling
market
Which set of indicators would
Answer b. Oscillators
be MOST helpful in analyzing
trading range markets?
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Moving averages
Resource for Financial Market Technicians.
b. Oscillators
Chapter 18
c. Cycles
d. Elliott Wave
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The four year cycle, also
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Answer a. Election and pre-election
known as the Presidential
Cycle, realizes the best
Reference: Pring, Martin J. Technical Analysis
returns in the stock market to
Explained. Chapter 21
be
a. Election and pre-election
b. Mid-term and election
c. Pre-election and post
election
d. Post election and mid-term
Which of the following
Answer d. All of the above
indicators are used to
measure market breadth?
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Cumulative breadth line
Resource for Financial Market Technicians.
b. Advance/decline ratio
Chapter 8
c. McClellan oscillator
d. All of the above
Which of the following is NOT
Answer c. The consensus is always wrong
an underlying assumption of
technical analysis?
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Prices move in trends
Resource for Financial Market Technicians.
b. Price discounts everything
Chapter 2
c. The consensus is always
wrong
d. Supply and demand
determines price
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Which of the following would
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Answer: c. Relative strength lines
NOT be considered a means
of identifying a trend?
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Regression lines
Resource for Financial Market Technicians.
b. Trendlines
Chapter 12
c. Relative strength lines
d. Moving averages
When a stock breaks through
Answer: d. Any of the above
the bottom of a down sloping
standard deviation channel
Reference: Dahlquist, Julie R., and Charles D.
(around a regression line)
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. The stock is oversold
Chapter 12
b. An acceleration of the
trend may be about to occur
c. It is at the limits of normal
distribution
d. Any of the above
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Moving averages tend to
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Answer a. Using a weighted moving average
change direction well after a
peak or trough in price and
Reference: Dahlquist, Julie R., and Charles D.
therefore are considered
Kirkpatrick. Technical Analysis: The Complete
"late" in changing direction.
Resource for Financial Market Technicians.
Which of the following is
Chapter 14
generally considered the
MOST effective way to offset
this tendency to lag?
a. Using a weighted moving
average
b. Using an unweighted
moving average
c. Using moving average
crossovers
d. None of the above
A descending triangle that
Answer b. Continuation pattern
forms in a downtrend would
probably be considered a
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Reversal pattern
Resource for Financial Market Technicians.
b. Continuation pattern
Chapter 15
c. Either a or b
d. Probably wouldn't be
useful in forecasting the future
direction of the trend
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Which of the following is NOT
Answer b. A rally that occurs on rising volume
true about volume?
points to a probable trend reversal
a. A rally that develops on
Reference: Pring, Martin J. Technical Analysis
declining volume is suspect
Explained. Chapters 22-23
b. A rally that occurs on rising
volume points to a probable
trend reversal
c. Both price and volume can
fall off sharply after a buying
climax
d. A downside break of a
moving average or trendline
should occur on heavy
volume to qualify as a bearish
signal
Which of the following is
Answer a. Triangles
LEAST reliable?
Reference: Pring, Martin J. Technical Analysis
a. Triangles
Explained. Chapter 5
b. Wedges
c. Broadening Formations
d. Pennants
Which of the following is
Answer b. It is usually a continuation pattern
LEAST true of a doji pattern?
Reference: Pring, Martin J. Technical Analysis
a. It represents indecision
Explained. Chapter 13
b. It is usually a continuation
pattern
c. It is usually a reversal
pattern
d. The opening and closing
prices are at identical levels
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The January Effect is:
Answer d. B and C
a. As the S&P goes in January,
Reference: Dahlquist, Julie R., and Charles D.
so goes the year
Kirkpatrick. Technical Analysis: The Complete
b. When small cap stocks are
Resource for Financial Market Technicians.
more likely to outperform the
Chapter 9
market
c. Has not worked well in
recent years
d. B and C
In a 10-day rate of change
Answer a. The ratio would be greater than zero
indicator, if the latest (more
recent) price is higher than
Reference: Dahlquist, Julie R., and Charles D.
the price 10 days ago
Kirkpatrick. Technical Analysis: The Complete
Resource for Financial Market Technicians.
a. The ratio would be greater
Chapter 18
than zero
b. The ratio would be less than
zero
c. The ratio would be equal to
zero
d. The ratio would hold at a
constant until the market
changed trend
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An extreme overbought
Answer b. Indicates that the rally is strong and will
reading on a momentum
probably carry further
indicator in the early stages of
a rally
Reference: Dahlquist, Julie R., and Charles D.
Kirkpatrick. Technical Analysis: The Complete
a. Shows that the market is
Resource for Financial Market Technicians.
ready to correct
Chapter 18
b. Indicates that the rally is
strong and will probably carry
further
c. Is a clear indication that the
pace of the rally is about to
slow down
d. Is a clear indication that the
pace of the rally is about to
accelerate
Which statement is true of an
Answer d. b and c
uptrending market?
Reference: Dahlquist, Julie R., and Charles D.
a. Momentum indicators will
Kirkpatrick. Technical Analysis: The Complete
tend to hit greater oversold
Resource for Financial Market Technicians.
extremes
Chapter 8
b. Momentum indicators will
tend to stay overbought
longer
c. Momentum indicators will
tend to hit greater
overbought extremes than in
a downtrending market
d. b and c
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Which would normally be
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Answer d. Put/call ratios
considered a sentiment
indicator that is MOST useful
Reference: Pring, Martin J. Technical Analysis
to traders?
Explained. Chapter 26
a. Corporate buy backs
b. Price/earnings ratios
c. Insider buying
d. Put/call ratios
Which type of chart is usually
Answer c. Point and figure charts
considered BEST suited for
establishing price targets
Reference: du Plessis, Jeremy. The Definitive Guide
based on a horizontal
to Point and Figure. Chapters 1-2
measurement?
a. Line charts
b. Daily bar charts
c. Point and figure charts
d. Candlestick charts
Contrary opinion is a useful
Answer d. It is at turning points where people are
investment tool because
wrong
a. The "little guy" is always
Reference: Pring, Martin J. Technical Analysis
wrong
Explained. Chapter 26
b. Traders are often most
bearish near market tops
c. Institutional investors have
access to better information
d. It is at turning points where
people are wrong
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The longest-term trend in the
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Answer c. Secular
market is the
Reference: Dahlquist, Julie R., and Charles D.
a. Primary
Kirkpatrick. Technical Analysis: The Complete
b. Cyclical
Resource for Financial Market Technicians Chapter
c. Secular
21
d. None of the above
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