In finance, technical analysis is security analysis discipline for forecasting the direction of prices through the study of past market data, primarily price and volume.Behavioral economics and quantitative analysis build on and incorporate many of the same tools of technical analysis , which, being an aspect of active management, stands in contradiction to much of modern portfolio theory. The efficacy of both technical and fundamental analysis is disputed by efficient-market hypothesis which states that prices of any tradable instrument are essentially unpredictable.
The principles of technical analysis are derived from hundreds of years of financial markets data. Some aspects of technical analysis began to appear in Joseph de la Vega's accounts of the Dutch markets in the 17th century. In Asia, technical analysis is said to be a method developed by Homma Munehisa during early 18th century which evolved into the use of candlestick techniques, and is today a technical analysis charting tool. In the 1920s and 1930s Richard W. Schabacker published several books which continued the work of Charles Dow and William Peter Hamilton in their books Stock Market Theory and Practice and Technical Market Analysis. In 1948 Robert D. Edwards and John Magee published Technical Analysis of Stock Trends which is widely considered to be one of the seminal works of the discipline. It is exclusively concerned with trend analysis and chart patterns and remains in use to the present. As is obvious, early technical analysis was almost exclusively the analysis of charts, because the processing power of computers was not available for statistical analysis. Charles Dow reportedly originated a form of point and figure chart analysis.
The Basics ( /ˈbæzɪtʃ/ BAZZ-ich) are a three-piece band from Melbourne, Australia, formed by Wally De Backer and Kris Schroeder in 2002. Their style has been described as anything from 'indie-pop' to 'rock'n'roll' to 'pop-rock', though their records show they span a wide range of genres, including reggae, ska, country, and electro-pop. They are "recognised as one of Australia's hardest-working bands".
With close to 1000 shows in their ten-year career, their live performances are well-known for their sense of humour and energy.
The Basics were formed after Kris met Wally at a party in Melbourne. The event was to see off the young aspiring producer, who was about to depart for Los Angeles, and together with a number of musician friends, the two jammed on some blues-rock standards. Later that night, they bonded over a mutual love of The Beatles, 70s and 80s cartoon theme songs and old Sierra adventure games.
Initially, they played around Melbourne as an acoustic guitar/drums combo, starting at The Opposition in Frankston and the House of Fools in Footscray, where in late 2002 they met Michael Hubbard and later invited him to join them on electric guitar. Though lacking any real experience with the instrument, Kris willingly purchased his first bass guitar, and the trio was born. During this time, the group start performing songs with more complicated three-part harmony.