Talk:Timeline of technical analysis

Extended timeline

Year	Event type	Details	Location
868	Background	The world's first known printed book, a Buddhist sutra, is produced in China.	China
1575	Settlement	Lodovico Benedito Bonbisi settles bills of exchange with Francisco de la Pressa and heirs at Medina del Campo. Bills of exchange and settlement practices introduce financial instruments that would later evolve into futures and options, integral to technical analysis strategies.	Lyons, France
1664	Conquest	British invade New Amsterdam and rename it New York, continuing business as usual under favorable terms. Maintaining the continuity of business practices help solidify New York's role as a financial hub.
1698		The wooden wall on Wall Street is torn down. The removal of physical barriers symbolizes the growing openness and expansion of the financial markets.
1776	Background	The United States wins its independence, several years after the rice market in Osaka opened.	United States
Early 20th century		William Hamilton refines Dow Theory, explaining market trends using a metaphor of ocean waves.	United States
1902	Publication	Charles Dow's ideas are posthumously developed into Dow Theory by William Hamilton.	United States
1916		The Dow–Jones Industrial Average is expanded from 12 to 20 stocks, reflecting the growth and diversification of the industrial sector.	United States
1920s	Development	William P. Hamilton applies Dow Theory, forecasting market trends and identifying short-term waves.	United States
1920s-1930s		Richard W. Schabacker, a former financial editor of Forbes Magazine, builds on the work of Charles Dow and William Peter Hamilton by systematizing methods and identifying significant technical patterns in individual stock charts. His influential books, including "Stock Market Theory and Practice," "Technical Market Analysis," and "Stock Market Profits," become foundational texts in the field.	United States
1928		The Dow–Jones Industrial Average is further expanded to 30 stocks, a composition that continues to date.	United States
1929		All public utility companies are removed from the Industrial Average, and a new Utility Average of 20 issues is established.	United States
1934		Alfred Cowles conducts a study that critically examines the performance of the Dow theory, which is based on Charles H. Dow's editorials in The Wall Street Journal. Cowles' analysis, published in Econometrica, concludes that following Dow's stock price movement advice results in lower returns than a simple buy-and-hold strategy with a diversified portfolio. From 1902 to 1929, Cowles had found that the Dow theory strategy produced annualized returns of 12%, compared to 15.5% from a buy-and-hold approach. However, later studies would revisit Cowles' conclusions, suggesting that the Dow theory may offer higher risk-adjusted returns despite slightly lower overall returns.	United States
1938	Adjustment of Utility Average	The number of stocks in the Utility Average is reduced from 20 to 15 to better represent the sector.	United States
1942	Collaboration	Robert D. Edwards joins his brother-in-law Richard Schabacker in furthering technical analysis research. Edwards continues Schabacker's work after his death, contributing to the development and refinement of technical analysis techniques.	United States
1951		Robert D. Edwards retires from his work as a stock analyst. John Magee continues research independently and later as Chief Technical Analyst at an investment counseling firm, focusing on discovering new technical devices.	United States
1951		John Magee initiates the Delta Studies, an extension and refinement of the technical method. These studies introduce new concepts that enhance the ability to interpret and predict market situations, proving successful in practical market operations.	United States
1984	Championship	Robert Prechter wins the U.S. Trading Championship using Elliott Wave strategy, re-introducing the theory to the public.	United States
1980s		Michael Adam, David Harding, and Martin Lueck use computers to analyze historical price data, introducing empirical rigor to technical analysis.	United States
1995	Market development	Widespread adoption of personal computers and Windows-based platforms leads to greater access to charting tools for individual investors.
2002		Data Explorers is founded in London by Charles Stopford Sackville and Mark Faulkner to provide critical data and analytics for the securities lending and short-selling markets. Recognizing a growing demand for transparency and benchmarking in these opaque financial sectors, the company builds a platform aggregating trade and inventory data from thousands of institutional participants worldwide. Data Explorers would quickly become a trusted resource for quantitative measurement of performance and risk across securities lending programs, eventually tracking $12 trillion in lendable assets. With innovative tools and deep market intelligence, it supports hedge funds, broker-dealers, asset managers, and financial media globally.
Digital age	Accessibility	Online trading platforms and sophisticated charting software make technical analysis accessible to retail traders. Machine learning and AI open new frontiers in the field.	Global
2024	Market Capitalization	As of date, the market capitalization of the NYSE and Nasdaq is $25.56 trillion and $23.41 trillion, respectively.