**Glossary ( A-C )( D-F )( G-J )( K-M )( N-S )( T-Z )****T-Statistics**- The probability distribution used to test the hypothesis that a random sample of
*n*observations comes from a normal population with a given mean. **T-Test**- A statistical test of significance for a distribution that changes its shape as N gets smaller; based on a variable
*t*equal to the difference between the mean of the sample and the mean of the population divided by a result obtained by dividing the standard deviation of the sample by the square root of the number of individuals in the sample. **Tangibles**- Cash equivalents of the futures contracts.
*Tax-Deferred*- In which an investment allows an investor to postpone paying taxes on money put into the investment until the investor literally takes possession of the money invested.
**Technical Analysis**- A form of market analysis that studies demand and supply for securities and commodities based on trading volume and price studies. Using charts and modeling techniques, technicians attempt to identify price trends in a market.
**Telegrapher’s Equation**- A variation of the Diffusion Equation that describes minor differences in the drunkard’s walk, in which the random decision controls the change in direction rather than the direction itself.
**Term Structure**- Also known as yield curve. The slope of the term structure is the yield on long-term government bonds minus the yield on short-term instruments such as Treasury bills.
**Theta**- The measurement of the time decay of a position.
**Thrust**- A comparison between the price difference of successively lower pivot bottoms or higher pivot tops. For example, a reduction in the difference between pivot bottoms shows loss of momentum; an increase in the difference shows increased momentum.
**Tick**- The minimum fluctuation of a tradable. For example, bonds trade in 32nds, while most stocks trade in eighths.
**Tick Indicator**- The number of stocks whose last trade was an uptick or a downtick.
**Time Domain**- Variation of a time series is accounted for by an autocorrelation function and other time series.
**Time Series**- A collection of observations made sequentially in time and indexed by time.
**Time Value**- The difference between the premium paid for an option and the intrinsic value. As the option approaches expiration, the time value erodes, eventually to zero.
**TPO**- Time-Price Opportunity; a price that occurs during designated half-hour periods of trading; a price-time relationship developed for the Chicago Board of Trade’s Market Profile and Liquidity Data Bank reports.
*Tradable*- Trading instrument.
**Trade Facilitation**- Liquidity.
**Trading Bands**- Lines plotted in and around the price structure to form an envelope, answering whether prices are high or low on a relative basis and forewarning whether to buy or sell by using indicators to confirm price action.
**Trading Range**

**Trailing Stop**

*Transfer Agent*

**Transfer Function**

**Transfer Response**

**Transform**

**Trend**

**Trend Channel**

**Trend Day**

**Trend-Following**

**Trending Market**

**Trendless**

**Trendline**

*Triangle*

**Triangular Moving Average**

**TRIN***See*Arms Index Trix-The one-period difference of the triple exponential smoothing operating on the log of price.

**True Range**

**True Strength Index**where:

Mtm = one-day change in closing price.

**|**Mtm**|** = absolute value of Mtm.

Er = exponential smoothed moving average of *r *days.

Es = exponential smoothed moving average of *s *days.

*Tulip Sector*

**Turning Point**

**Tweezers Bottoms and Tops**

**Uncovered Option**

**Underlying Instrument**

**Underlying Security**

*Uniform Gifts to Minors Acts*

**Univariate**

**Upthrust**

**Value Area**

*Value at Risk (VaR)*

*Value Averaging*

**Value-Weighted Index**

**Variable-Length Moving Average**

**Vega**

**Vertical Spread**

*Vesting*

**Volatility**

*Volume*

**Volume Price Trend (VPT)***See*On-balance volume.

*W Formation*

*Warrant*

**Wasting**

**Wave**

**Wave Cycle**

*Wedge*

*Weighted Average Purchase Price*

**Weighted Industry Index**

*Weighted Moving Average (WMA)*

**Whiplash**

**Whipsaw**

**Wildcards**

**Williams’ %R**

*Window*

*Wizard*

**Yates’s Correction**

**Zero-Coupon Government Bonds**

**Zeta**

**Zigzag**