Can chartists outperform the market? market efficiency tests for “technical analysis”

✍ Scribed by Salih N. Neftci; Andrew J. Policano

• Publisher: John Wiley and Sons
• Year: 1984
• Tongue: English
• Weight: 744 KB
• Volume: 4
• Category: Article
• ISSN: 0270-7314
• DOI: 10.1002/fut.3990040403

✦ Synopsis

any traders in futures markets believe in the predictive power of technical ' W e say that t, is a Martingale Difference if c I = XI -EIX, I I l -i l whtvr I, -I is the informalion set available at the time t -1. In [his sensr, the error terms c, form a srqurnw of U I Icorrelated random variables.