RE:RE:Weed charts are not bullish at this point.
"charts are irrelevant"? Could I ask you how long have you been trading? I can assure you that for techncial analysts, charts are the only thing that is relevant. From our perspective, everything gets reflected in charts.
"Momentum, fear, hype" as you call it, all gets reflected in various period charts and charts are used by professional traders and computer trading systems. Only thing that beats that is artificial intelligence which is the "new kid" on the block.
Right now, I'm a technical analyst that just waiting for the buy signal on this increasing oversold stock and sector. How do I know that's the reality at this point in time? Charts. Most are waiting for the daily period indicators to turn but the short term period indicators provide some clue:
Oversold:
RSI 15.89 and CCI -147 on the 2 hour chart for ACB
RSI 18.60 and CCI -132 on the 2 hours chart on APH
RSI 19.83 and CCI - 150 on the 2 hour chart on WEED
Same type of oversold indcators on the DOW and S&P.
But I'm not here to change your trading style, just to explain how technical analysts do it.