CFA Textbook
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Study Session 3 Quantitative Methods :
Application
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Reading 13 Technical Analysis
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Summary
- Technical analysis is a form of security analysis that uses
price and volume market data, often graphically displayed.
- Technical analysis can be used for any freely traded security
in the global market and is used on a wide range of financial
instruments, such as equities, bonds, commodity futures, and currency
futures.
- Technical analysis is the study of market trends or patterns
and relies on recognition of patterns that have worked in the past in
an attempt to predict future security prices. Technicians believe
that market trends and patterns repeat themselves and are somewhat
predictable because human behavior tends to repeat itself and is
somewhat predictable.
- Another tenet of technical analysis is that the market brings
together the collective wisdom of multiple participants, weights it
according to the size of the trades they make, and allows analysts to
understand this collective sentiment. Technical analysis relies on
knowledgeable market participants putting this knowledge to work in
the market and thereby influencing prices and volume.
- Technical analysis and fundamental analysis are equally
useful and valid, but they approach the market in different ways.
Technical analysis focuses solely on analyzing markets and the
trading of financial instruments, whereas fundamental analysis is a
much wider ranging field encompassing financial and economic analysis
as well as analysis of societal and political trends.
- Technical analysis relies primarily on information gathered
from market participants that is expressed through the interaction of
price and volume. Fundamental analysis relies on information that is
external to the market (e.g., economic data, company financial
information) in an attempt to evaluate a security’s value relative to
its current price.
- The usefulness of technical analysis is diminished by any
constraints on the security being freely traded, by large outside
manipulation of the market, and in illiquid markets.
- Charts provide information about past price behavior and
provide a basis for inferences about likely future price behavior.
Various types of charts can be useful in studying the markets: line
charts, bar charts, candlestick charts, and point and figure charts.
- Relative strength analysis is based on the ratio of the
prices of a security to a benchmark and is used to compare the
performance of one asset with the performance of another asset.
- Many technicians consider volume information to be very
important and watch for the confirmation in volume of a price trend
or the divergence of volume from a price trend.
- The concept of trend is perhaps the most important aspect of
technical analysis. An uptrend is defined as a security making higher
highs and higher lows. To draw an uptrend line, a technician draws a
line connecting the lows of the price chart. A downtrend is defined
as a security making lower highs and lower lows. To draw a downtrend
line, a technician draws a line connecting the highs of the price
chart.
- Support is defined as a low price range in which the price
stops declining because of buying activity. It is the opposite of
resistance, which is a price range in which price stops rising
because of selling activity.
- Chart patterns are formations appearing in price charts that
create some type of recognizable shape.
- Reversal patterns signal the end of a trend. Common reversal
patterns are the head and shoulders, the inverse head and shoulders,
double tops and bottoms, and triple tops and bottoms.
- Continuation patterns indicate that a market trend in place
prior to the pattern formation will continue once the pattern is
completed. Common continuation patterns are triangles, rectangles,
flags, and pennants.
- Price-based indicators incorporate information contained in
market prices. Common price-based indicators are the moving average
and Bollinger Bands.
- Momentum oscillator indicators are constructed from price
data, but they are calculated so that they fluctuate either between a
high and low, typically 0 and 100, or around 0 or 100. Some examples
are momentum (or rate of change) oscillators, the RSI, stochastic
measures, and MACD.
- Sentiment indicators attempt to gauge investor activity for
signs of increasing bullishness or bearishness. Sentiment indicators
come in two forms—investor polls and calculated statistical indexes.
Opinion polls to gauge investors’ sentiment toward the equity market
are conducted by a variety of services. Commonly used calculated
statistical indexes are the put/call ratio, the VIX, margin debt, and
the short interest ratio.
- Flow-of-funds indicators help technicians gauge potential
changes in supply and demand for securities. Some commonly used
indicators are the ARMS Index (also called the TRIN), margin debt
(also a sentiment indicator), mutual fund cash positions, new equity
issuance, and secondary equity offerings.
- Many technicians use various observed cycles to predict
future movements in security prices; these cycles include Kondratieff
waves, decennial patterns, and the US presidential cycle.
- Elliott Wave Theory is an approach to market forecasting that
assumes that markets form repetitive wave patterns, which are
themselves composed of smaller and smaller subwaves. The
relationships among wave heights are frequently Fibonacci ratios.
- Intermarket analysis is based on the principle that all
markets are interrelated and influence each other. This approach
involves the use of relative strength analysis for different groups
of securities (e.g., stocks versus bonds, sectors in an economy, and
securities from different countries) to make allocation decisions.
中文手册整理
- 基本概念
- 技术分析主要用于分析股票市场的短期波动
- 基本假设
- 价格，成交量，时间跨度
- 技术分析的优点
- 快，容易
- 交易信息完整，不需要考虑会计问题
- 包含价格背后的心理分析和经济原因分析
- 交易时间点明确
- 技术分析的挑战
- 历史不一定会重复，信息可能滞后，所以基本假设可能不稳固
- 如果技术分析有效，那么价格变动会快速平复可能存在的利差
- 主观性强
- 道氏理论
- 主要原理
- 市场平均指数可以解释和反应市场的大部分行为
- 市场波动具有趋势性，主要趋势（primary trend）次要趋势（secondary
trend）短暂趋势（near term trend）
- 主要趋势有三个阶段，积累阶段，上升阶段，整理阶段
- 两种平均价格指数必须互相加强，工业平均指数和运输业平均指数必须在同一方向上才确认市场趋势的形成
- 趋势必须得到交易量的确认
- 趋势形成后将持续，直到反转信号
- 合理性
- 道氏理论有和你的内核和严密的逻辑
- 股价指数能够提前反映经济变化
- 道氏理论对以后的技术分析有重大影响
- 不合理性
- 侧重长期，不能做中短期分析，也不能给出合适的交易时机
- 长期预测也有滞后性
- 市场趋势可能并不明显
- 过于强调股价平均数
- 运输业股价平均数在当前时代不那么重要
- 股价图形分析
- 折线图（line chart）直线图（bar chart）K线图（candlestick line）○×图（point
and figure chart）
- 股价趋势分析
- 趋势的方向：上升，下降，水平
- 趋势的类型：主要，次要，短暂
- 趋势线的画法，关键在于找到关键点
- 趋势线的有效突破的确认
- 收盘价突破
- 连续两日以上的突破
- 连续两日创新价的突破
- 长期趋势线的突破
- 与成交量配合的突破
- 支撑（support line）与阻力（resistance line）
- 轨道（channel）
- 两极之间的转换（change in polarity）
- 股价形态分析
- 反转形态，reversal patterns
- 头肩顶和头肩底（head and shoulders top/bottom pattern）
- 双重顶和双重底（double tops/bottoms）
- 第二次不能创新价，成交量逐个增加或减少，上涨突破颈线时成交量增加
- 三重顶和三重底（triple tops/bottoms）
- 整理形态，continuation patterns
- 市场指标分析
- 价格移动指标，price-based indicators
- 移动平均线（MA）
- 布林线Boll（Bolinger Line）
- 动量摆动指标，momentum oscillators
- 价格变动率指标（ROC，rate of change oscillator）
- 相对强弱指标（RSI，relative strength index）
- MACD
- 随机指标（KD，stochastic oscillator）
- 情绪指标，sentiment indicators
- 卖权-买权比率（put-call ratio）
- 波动率指数（VIX，volatility index）
- 保证金负债量（margin debt）
- 卖空比率（short interest ratio）
- 资金流量指标，flow of funds indicators
- 短线交易指数（short-term trading index）
- 保证金负债量（margin debt）
- 共同基金现金头寸（mutual fund cash position）
- 新股发行（new equity issuance）
- 周期理论
- 4年期，美国市场，总统大选四年一次
- 10年期
- 18年期，18年成长
- 54年期，人的生命周期
- 艾略特波浪理论
- 每个周期无论时间长短，都按照一种模式进行，五升三降或五降三升
- 斐波那契数列
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Next Reading


I am a student, a friend, a web developer, a traveller, a woman, an optimist, a curious soul from the heart of UK.
I love programming, and for few years I am experimenting with HTML, CSS, Javascript and any project I found interesting.
Send me an email and I'll reply as soon as possible.
I am confident with the skills below. Life is a continous learning curve.


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| ServiceBusMessageQueue (string name, ConfigParams config) |
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override bool | IsOpen () |
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override async Task | OpenAsync (string correlationId, List< ConnectionParams > connections, CredentialParams credential) |
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override async Task | CloseAsync (string correlationId) |
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override Task< long > | ReadMessageCountAsync () |
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override async Task | SendAsync (string correlationId, MessageEnvelope message) |
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override async Task< MessageEnvelope > | PeekAsync (string correlationId) |
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override async Task< List< MessageEnvelope > > | PeekBatchAsync (string correlationId, int messageCount) |
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override async Task< MessageEnvelope > | ReceiveAsync (string correlationId, long waitTimeout) |
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override async Task | RenewLockAsync (MessageEnvelope message, long lockTimeout) |
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override async Task | AbandonAsync (MessageEnvelope message) |
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override async Task | CompleteAsync (MessageEnvelope message) |
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override async Task | MoveToDeadLetterAsync (MessageEnvelope message) |
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override async Task | ListenAsync (string correlationId, IMessageReceiver receiver) |
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override void | EndListen (string correlationId) |
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override async Task | ClearAsync (string correlationId) |
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void | CheckOpened (string correlationId) |
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MessageEnvelope | ToMessage (Message envelope, bool withLock=true) |
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string | _queueName |
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string | _connectionString |
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IQueueClient | _queueClient |
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NamespaceManager | _namespaceManager |
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MessageReceiver | _messageReceiver |
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The documentation for this class was generated from the following file:
- src/Queues/ServiceBusQueue.cs


Returns the batched diagonal part of a batched tensor.
tf.compat.v1.linalg.diag_part
tf.compat.v1.matrix_diag_part
tf.compat.v2.linalg.diag_part
tf.linalg.diag_part( input, name='diag_part', k=0, padding_value=0 )
Returns a tensor with the k[0]
-th to k[1]
-th diagonals of the batched
input
.
Assume input
has r
dimensions [I, J, ..., L, M, N]
.
Let max_diag_len
be the maximum length among all diagonals to be extracted,
max_diag_len = min(M + min(k[1], 0), N + min(-k[0], 0))
Let num_diags
be the number of diagonals to extract,
num_diags = k[1] - k[0] + 1
.
If num_diags == 1
, the output tensor is of rank r - 1
with shape
[I, J, ..., L, max_diag_len]
and values:
diagonal[i, j, ..., l, n] = input[i, j, ..., l, n+y, n+x] ; when 0 <= n-y < M and 0 <= n-x < N, 0 ; otherwise.
where y = max(-k[1], 0)
, x = max(k[1], 0)
.
Otherwise, the output tensor has rank r
with dimensions
[I, J, ..., L, num_diags, max_diag_len]
with values:
diagonal[i, j, ..., l, m, n] = input[i, j, ..., l, n+y, n+x] ; when 0 <= n-y < M and 0 <= n-x < N, 0 ; otherwise.
where d = k[1] - m
, y = max(-d, 0)
, and x = max(d, 0)
.
The input must be at least a matrix.
input = np.array([[[1, 2, 3, 4], # Input shape: (2, 3, 4) [5, 6, 7, 8], [9, 8, 7, 6]], [[5, 4, 3, 2], [1, 2, 3, 4], [5, 6, 7, 8]]]) # A main diagonal from each batch. tf.matrix_diag_part(input) ==> [[1, 6, 7], # Output shape: (2, 3) [5, 2, 7]] # A superdiagonal from each batch. tf.matrix_diag_part(input, k = 1) ==> [[2, 7, 6], # Output shape: (2, 3) [4, 3, 8]] # A tridiagonal band from each batch. tf.matrix_diag_part(input, k = (-1, 1)) ==> [[[2, 7, 6], # Output shape: (2, 3, 3) [1, 6, 7], [5, 8, 0]], [[4, 3, 8], [5, 2, 7], [1, 6, 0]]] # Padding = 9 tf.matrix_diag_part(input, k = (1, 3), padding = 9) ==> [[[4, 9, 9], # Output shape: (2, 3, 3) [3, 8, 9], [2, 7, 6]], [[2, 9, 9], [3, 4, 9], [4, 3, 8]]]
input
: A Tensor
with rank k >= 2
.name
: A name for the operation (optional).k
: Diagonal offset(s). Positive value means superdiagonal, 0 refers to the
main diagonal, and negative value means subdiagonals. k
can be a single
integer (for a single diagonal) or a pair of integers specifying the low
and high ends of a matrix band. k[0]
must not be larger than k[1]
.padding_value
: The value to fill the area outside the specified diagonal
band with. Default is 0.A Tensor containing diagonals of input
. Has the same type as input
.


Nailing down the workflow of Time Tracker
Revisiting decisions about data models and prototyping the admin interface for generating a monthly bill.
First in a series of posts concerning my hourly billing Saas project
An overview of what has gone into making this site and a peek at the future.


{% extends "_base.html" %} {% block content %}
This is a simple project to allow someone to store ideas in a single place for later review.


Experience the exact same raised experience as well as incredible audio UHP has actually been delivering to opera house, workshops and also living rooms for 50 years with Business HTML Templates.The headphones are all made by HTML Business Template from thoroughly chosen products such as soft lambskin, cowhide natural leather and also plated aluminium to make certain excellent quality as well as convenience so you could enjoy exceptional flexibility and also craftsmanship.


Master Drakon:
Secrets of my ancestors? What are you talking about?
Why is this dish so tasteless? Rats! I've ruined dinner again!
I wish I could cook as good as Chef Donath.
Maybe you could get me his secret recipe book?
"I'll get it!"


Life was good for the ancient Kandyan King who lived amidst some of nature's finest gardens. And Now its's your turn to experience that same tranquil elegance. The Cinnamon Citadel Kandy has 95 superior rooms, 24 deluxe rooms and 2 suites.
All quiet, absolute privacy and of course, breathaking views.
Staying with us combines comfort with class, elegance with ease and vibrancy in varying hillside tones. Our rooms are quiet and intimate while they are speacious, so walk in and forget the rest of the world other than bird chipring outside
your windows.
WELCOME TO SERENITY
Fancy waking up to a picture-postcard view of a river, set against a backdrop of mountains shrouded in varying degrees of mist? Revelling in a soundtrack written and performed by Mother Nature herself? Then travelling back in time for a history
lesson? That's exactly wht you'd get and more, at the Cinnamon Citdael Kandy. Nestled high up in the hill county, beside a quiet bend in the Mahaweli River, our iconic four-star hotel caters to looking for quiet relaxtion not far from Kandy, Sri Lanka's
bustling hill capital and the last domain of the Sinahala Kings.
Three and a half hours away from the airport and just 15 minustes away from the Kandy town, our hotel is located in the very heart of serentiy. It's a constantly recurring theme that embraces you at the reception, waits with you in the lobby,
walks you throught the hallways and stays with you in clearly reflected in the contemporaruily stylish interiors of the vibrant tones of red and traditional Kandysn art, reminding you that you're still very much in the majestic realm of the ancident
Kings.
**Please Note: Check out time on the 20th May 2017 is 9.00 AM
Everthing about the Cinnamon Citadel Kandy is an escapist's dream. Be it the luxurious amenities and panoramic views offered in every room, or boat rides and nature walks the gey you up close and personal with the wild inhabitants of the
surrounding forests, Or simply the warmth of our ever-smiling staff, whose prompt service and attention to every little detail completes the experience of the perfect getaway.
Being ISO 14,000-, ISO 18,000- SND ISO 22,000-certified, Green Globe-Certified and recipient of Trip Advisors Traveller's Choice Award means guests can expect nothing but the finest service and enviromentally friendly practices at the hotel.
In fact, we're taken many notable green initives to reduce our carbon footprint and br more at one with our pristine surroundings.
Rest assured, if you're looking for quiet rejuvenating weekend in the hills, there's always a room with a view wating tight here just for you.


About Ping Pong
Created by:
Jennifer Qian
GitHub Username/URL:
https://github.com/jenniferqian1988/pingPongGame.git
Level 2 Test for:
Java
Let's Play!
Rules:
Ping Pong will count up to your number from 1 with the following exceptions:


This project does image mosaicing to make panoramic photos. It morphs the photos using perspective transformation and stitches the photos together to make a panoramic photo.
Laplacian blending example
The laplacian blending while works on some photos, does not give too good results on images with large blocks of same colors, for instance, see below:Blending and Compositing
Spherical/Cylindrical/polar mapping
360 Cylindrical panorama
I used harris.m to detect corners in an image. Below shows harris corners overlayed on an image, and the result for Adaptive Non-Maximal Suppression.
Below shows the result for matching between two images. The red points are selected corners in an image and the blue points are the matching corners of both images.
Using a 4-point RANSAC method as described in the paper, I am able to find the robust homography matrix for morphing. Below shows the result of RANSAC. The green points are points chosen among the blue ones to calculate the homography
The panoramic photo made using RANSAC is shown below:
|
RANSAC |
Manual |
Following the description of the paper from Horry et al., I made several image boxes, results are shown below:
The painting
Below is the 5 faces of the box:
San Francisco
Below is the 5 faces of the box:
The art gallery
Below is the 5 faces of the box:
1. Video tour into the image
2. Foreground extraction with alpha channel