«Invisible Hand» of the Market and Prices Movement

Sergey I. Tarakanov ()
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Sergey I. Tarakanov: State University of the Ministry of Finance of the Russia, Moscow, Russia

Finansovyj žhurnal — Financial Journal, 2012, issue 1, 101-106

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.

Keywords: «invisible hand»; Dow Theory; wave movement; stock market; bull trend; impulse; correction (search for similar items in EconPapers)
JEL-codes: D18 D43 D46 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:120110:p:101-106

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