The art and science of top analysis

Posted on May 23, 2014 by in Featured Letters

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p83257770514&a=266398464

Forget the science part.  There is none at present which is dependable.  Technicians are running around crazily calculating RSIs and MACDs  and computing cycles and "analogues" and  throwing the I Ching and dusting off their crystal balls.  Sound and fury signifying nothing.  There is some interesting work by Paul Desmond at Lowry's.  (You can see it at edwards-magee.com/ggu/desmond1.pdf and desmond2.pdf and desmond3.pdf.  If you read these you will know as much or more than most analysts.

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