The PDF opens with the foundational axioms of the Dow Theory. Murphy explains that market price discounts everything. This means that a hurricane, an earnings report, or a CEO scandal is irrelevant—the price action already reflects the collective emotion of all participants.
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The PDF opens with the foundational axioms of the Dow Theory. Murphy explains that market price discounts everything. This means that a hurricane, an earnings report, or a CEO scandal is irrelevant—the price action already reflects the collective emotion of all participants.
AI responses may include mistakes. For financial advice, consult a professional. Learn more