Readings: Chartistry, S&P 500 Double Top, Point & Figure
- Portfolio.com: Chartistry - The Dark Arts of Wall Street
. . . about 500 technical analysts currently work at major American investment banks and that thousands of money managers use technical analysis as part of their investment strategies.
To test the technical analysts’ assumptions behind the gobbledygook, Reich created Stock or Not, an online game that challenges players to decide which of two stock charts is real. The real charts are taken from Yahoo Finance; the fake ones are generated by a model Reich has devised.
- BigPicture: China & The Mother of all Double Tops?
The failure of the SPX at the prior highs — 1527 on closing basis — and an inability to make a new high has some technicians wondering if we are looking at the mother of all double tops.
- DailySpeculations: Point and Figure Considerations for Research
There are substantial differences in Point and Figure methodologies that bear noting, particularly to anyone doing statistical/quantitative testing.
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