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Technical AnalysisDow TheoryAccumulation, Markup, Distribution
Dow Theory

Accumulation, Markup, Distribution

"The three stages of every smart money cycle."

Accumulation, Markup, Distribution

Trends do not move in a straight line; they evolve through biological phases.

  • 01

    Accumulation:

    Informed investors buying from distressed sellers at the bottom.

  • 02

    Markup (Public Participation):

    The trend becomes obvious. Technical traders enter as the move accelerates.

  • 03

    Distribution:

    Informed investors selling to late-arriving retailers at the peak.

Module Topics

Origins of Dow Theory
Primary, Secondary & Minor Trends
Accumulation, Markup, Distribution
Trend Confirmation & Divergence
Why Dow Theory Still Matters Today
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Published: Feb 2026Written By: Editorial Team

Disclaimer:While due care is taken to ensure the accuracy and clarity of the information provided, the sheer complexity of data arrangements may lead to unintentional discrepancies. This content is for educational purposes only. Financial markets involve significant risk; readers are strongly advised to verify information from multiple sources and apply their own judgment. This does not constitute financial or investment advice.