The purpose of the Long Leading Index is to offer advance indications of significant economic turning points. It encompasses the subsequent series

1) M2 money supply in inflation-adjusted dollars

2) unemployment percentages

3) new housing permits

4) a and c only

5) all the above

To generate returns that surpass a buy-and-hold strategy, accounting for transaction costs, technical trading rules would require the market to be

1) Increasing

2) Declining

3) Inefficient

4) Overpriced

5) Underpriced

Technical analysts hold the belief that an industry or stock demonstrating superior performance relative to the overall market is likely to

1) Continue to perform the market

2) Return to normal

3) Reverse trend

4) Meet a resistance level

5) Persist in outperforming the market.