"Technical analysis is the science of recording, usually in graphic form, the actual history of trading (price changes, volume of transactions, etc.) in a certain stock or in the averages and then deducting from that picture history the probable future trend....the real value of a share of a stock is determined at any given time solely, definitely and inexorably by supply and demand, which are accurately reflected in the transactions consummated on the floor of the New York Stock Exchange."
- Edwards & Magee