Glossary - U to Z
U.S. Treasury Bill
government short-term debt instrument with an original maturity of one
year or less. Bills are sold at a discount from par with the interest
earned being the difference between the face value received at maturity
and the price paid.
security with a coupon and original maturity of more than 10 years.
Interest is paid semiannually.
security with a coupon and original maturity of one to 10 years.
moving average where the number of periods selected for smoothing is
based on a volatility measurement of price. Typically, the standard
deviation of price is used to measure price volatility. The more
volatile the price is, the shorter the number of period used is for
and selling calls or puts of the same expiration month but different
measure of a stock's tendency to move up and down in price, based on its
daily price history over the latest 12 months.
for a specific period of time, it is the number of purchases or sales of
a commodity futures contract made. Often used to refer to the total
transactions for one trading day.
Elliott wave theory, a sustained move by a market's price in one
direction as determined by the reversal points that initiated and
impulse wave followed by a correction wave, the impulse wave being made
up of five smaller, numbered waves of alternating direction designated
1, 2, 3, 4 and 5, and the correction wave being composed of three
smaller alternating waves designated a, b, and c.
wedge is a short-term counter-cyclical price pattern the trading range
for which is bounded by two converging trendlines drawn that slope in
the opposite direction of the prevailing trend. Volume declines during
the formation of the wedge and usually expands on the breakout.
buy or sell signal from any technical indicator that is quickly
and oversold indicator that is used to determine market entry and exit
measure of the annual return on an investment.
The structure of the level of interest rates through various maturities. Usually the shorter the maturity, the lower the interest rate. Thus, 3-month Treasury bills usually yield less than 20-year government bonds. The slope of the yield curve relates to the speed with which rates rise as the maturity increases. In periods of tight money, short-term rates usually yield more than longer-term rates, and the curve is then called an inverse yield curve.
In a bull market, an Elliott three-wave pattern that subdivides into a 5-3-5 pattern with the top of wave B noticeably lower than the start of wave A. In a bear market, this pattern will be inverted.
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