The Dow Theory Describes Stock Prices as Moving in Trends

Multiple Choice

The Dow Theory describes stock prices as moving in trends analogous to the movement of water. Which of the following statements is NOT true?

A) Major trends resemble tides.
B) Intermediate trends resemble waves.
C) Short-run movements are like ripples.
D) Waves are the most important.
E) There are three types of price movement over time.