stock market crash

[wattaj]

I continue to be surprised by this recent rally. Seems odd. Europe may be seeing some long-awaited good news, but America is just beginning to take off. Strange times.

[scooterscot]

I continue to be surprised by this recent rally. Seems odd. Europe may be seeing some long-awaited good news, but America is just beginning to take off. Strange times.

Text book definition of a bull trap. Circled in blue below (FTSE 100) you can see previous support is now acting as resistance. If the market does not close above 5700 this week, then it is a clear dive to 4400. If 4400 does not hold then we're off to test 3000 or 62% correction. And 70% @ 2500.

Not doing anything magical, just reading the chart support & resistance levels.














4400 is a very important level. A support trend line since 1993. If that breaks, then the 'L shaped recovery' pattern is confirmed and we're in full on depression territory with no recovery until late 2024 - which would be quite soon actually considering how long the market has been in an uptrend.

[jamesbrown]

Not doing anything magical, just reading the chart support & resistance levels.

Sure you are. It's a complete fairy story. You chose an arbitrary time window, an arbitrary quantile of an arbitrary time-aggregation of trades drawn as an arbitrary box and an anchored an arbitrary line to it so that the unicorns are extra fluffy.

Weeeeeeee!

[scooterscot]

Impressive number of adjectives you used there. What else can the thesaurus produce?

[jamesbrown]

Impressive number of adjectives you used there. What else can the thesaurus produce?

Mincelike.

[DimPrawn]

Sure you are. It's a complete fairy story. You chose an arbitrary time window, an arbitrary quantile of an arbitrary time-aggregation of trades drawn as an arbitrary box and an anchored an arbitrary line to it so that the unicorns are extra fluffy.

Weeeeeeee!

Do you see how price rallied after breaking the trend line and how it retested it again? Do you see the bearish tweezers which signals trend reversal and themselves as a part of a head and shoulder formation? You may be seeing even other formations that I don't see. That is wonderful. Now it gives me a pleasure to tell you that this chart is generated randomly by a special excel sheet tool called "Coin Tosses and Stock Price Charts". You can generate a new chart just by pressing a button there.

Technical Analysis Fallacy: Part 1 - Article contest - Dukascopy Community

[scooterscot]

Technical analysis is meaningful. For most it is price action, for the few it tells them what the herd is thinking.

I'd not be sitting on a pile of profit were it a fallacy.

[Whorty]

Technical analysis is meaningful. For most it is price action, for the few it tells them what the herd is thinking.

I'd not be sitting on a pile of profit were it a fallacy.

I'd not argue with you that you've produced a pile of something, but it don't smell like profit fella

[GJABS]

The great thing about technical analysis, is that it lets skilled fund managers take money from those who believe in it.

[Scoobos]

ssssscccchhh..


Don't tell anyone but....


it's all made up, its just people's opinions of what things might be worth , in the future... it's not real, it's just projections and guesswork - it'll only work as long as enough people believe it.