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Richard W. Schabacker During the 1920s and 1930s, Richard W. Schabacker reopened the subject of technical analysis in a somewhat new direction. Schabacker, who had been financial editor of Forbes Magazine, set out to find some new answers. He realized that whatever significant action appeared in the average must derive from similar action in some of the stocks making up the average. In his books, Stock Market Theory and Practice, Technical Market Analysis, and Stock Market Profits, Schabacker showed how the “signals” that had been considered important by Dow theorists when they appeared in the Averages were also significant and had the same meanings when they turned up in the charts of individual stocks. Others, too, had noted these technical patterns. But, it was Schabacker who collated, organized, and systematized the technical method. Not only that, he also discovered new technical indications in the charts of stocks; indications of a type that would ordinarily be absorbed or smothered in the averages, and, hence, not visible or useful to Dow theorists. In the final years of his life, Richard Schabacker was joined by his brother-in-law, Robert D. Edwards, who completed Schabacker’s last book and carried forward the research of technical analysis.

all of above from ROBERT D. EDWARDS,JOHN MAGEE,W.H.C. BASSETTI : TECHNICAL ANALYSIS OF STOCK TRENDS, 9thED