RE:TA is irrelevantThere have, and always will be forces at work. RS is only one of many indicators to consider. The reality is indicators have an impact on trading algorithms. My original point is that although RSI appears low and looks like a good entry point, charts are telling me we're heading lower.
WINDGOD46 wrote: Does technical analysis make any difference in the scheme of things when there are forces at work which overwhelm any sort of prediction based on technical indicators? Not likely. The general determines the particular in this case and relying on RS, it's a good indicator for the day traders, but not the long term investors. As an entry point, TA maybe useful, but when the Crime Syndicate of Shorts is at work, no need to rely on TA.