RE:RE:RE:RE:RE:RE:Technicals...That's all entirely wrong. You do not know a trend except in hindsight....you cannot know a trend is broken except in hindsight. There is no such things as "supports" or "resistance" as any given chart will show multiple instances of when it didn't support or resist! I laugh out loud every time I read "It didn't hold support" or "it's broken resistance"...well what good was support or resistance then? I gave this example of how markets ALWAYS discount the expected but I'll give it again...
Stock X is predicted to drop if it hits some magical number.....everyone knows this and expects it to happen based on some voodoo t/a. Do you wait for it to hit that magical number on the button or do you front run the expected and sell sooner thus negating the expected? It will never hit that magical t/a number because the market discounts the expected and moves prior to it which negates the original assumption.
Further...If you think the big money with the PHD mathemeticians who write algorythims looks at the same "cup and handle" nonsense the average t/a follower does you're seriously mistaken. Quants, CTA funds, big hedge funds etc do not use laymans blunt axe to do what they do. They front run everything and neither you or I have a clue what drives them which is the whole point of their existence
If there was ANY validity to ANY t/a voodoo nonsense with TRILLIONS of $$$$ at stake there would be reams of academic papers and studies confirming it....there are exactly NONE. All you will ever find if you investigate the claims of t/a people are personal testimonies that cherry pick their data...you will find NO scientific studies supporting ANY of their claims...go try...I have