The overall direction of trading on either a short- mid- or long-term basis. A trend that moves generally higher is called an Uptrend, and one that moves generally lower is called a downtrend. Major trends are typically comprised of a Series of short-term trends that move with and sometimes in opposition to the long-term trend. Technicians watch both long-term and short-term trend for individual securities, sectors, and the broader market. See Market Trend; trend line.
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secondary market trend
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unbiased expectations hypothesis
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