RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:This board is informative and ridiculous at the same timeGrimalkin wrote: EDX, technicals actually do matter, the more supports we take out, the more likely downside will occur. All you guys speculating on weather...weather doesn't matter at all, look at the last rally last week, NG rallied through 2 bearish reports, how can you say fundamentals even matter? it's all about support and resistance.
No matter what the price does, you can say it was because of technicals. Convenient. That's like believing in God because if you survive a bad car crash, God saved you and if you die in a bad car crash, God is punishing you.
Fundamentals drive the long-term price of any asset. The price movements over the past week show that technicals mean squat. Every resistance line was taken out quickly and on the way down every support line was taken out quickly.
Those with lots of leverage can make the market do whatever they want. The past week was proof of that. But fundamentals will catch up to it eventually.