TECHNICAL ANALYSIS - DEFINITIONJohn J Murphy, who wrote the TEXTBOOK on technical analusis, defines TA, as follows:
"Technical analysis is the study of market action, primarily through the use of charts, for the purpose of forecasting future price trends."
[emphasis supplied by me]
Mr. Murphy wrote the book on the matter and was CNBC's technical analysis expert for years.
But Old Fox knows better? Don't think so.