Century-Old Tic-Tac-Toe Stock Charts Rake in ETF Billions

(Bloomberg) -- The Nasdaq Stock Market has always been associated with cutting edge technology, whether it be for the companies it lists or the systems used to match buyers and sellers on the first all-electronic exchange.

Yet interestingly enough, one of the lines of business that Nasdaq OMX Group chose to highlight in its earnings report today has its roots in a technique for analyzing stock prices that was championed by the likes of Charles Dow more than a century ago. During the first quarter, Nasdaq bought Dorsey Wright & Associates, which boasts it is "known on Wall Street as the experts in the Point & Figure methodology."