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Continue to ChatThe correct method for tracking the stock market is to use semilogarithmic chart paper, since the market's history is sensibly related only on a percentage basis. The investor is concerned with percentage gain or loss, not the number of points traveled in a market average. Arithmetic scale is quite acceptable for tracking hourly waves. Channeling techniques work acceptably well on arithmetic scale with shorter term moves. - Robert Prechter from https://whatsmyquote.com/quote/the-correct-method-for-tracking-the-stock-market-is-to-use-semilogarithmic-chart-paper-since-the-market-s