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As Editor of The Chapman Marketline and Trendswatch since 1984, Basil Chapman’s service has been used by Fidelity’s Technical Department, hedge funds, banks, money managers, and individual clients. Often quoted in Barron’s MarketWatch section, as well as winning TheStreet.com’s “timing“ competition, where his analysis has often been referenced, Basil has a history of significant market-trend calls.
While hand drawing charts from the late 1970s into the 1980s, he noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later he found that computer software, which included the standard market technical indicators, enhanced the degree of accuracy in calling price turns. As well as market trend calls.
Thus was born the ChapmanWave Up/Down Sequence.