That would be nuts: that's less than a 0.3% move within which to try to get timing correct.
TA is vulnerable to news. Option_Sniper read end of July close at below $344 as sign of going down to $287
Well..if the pattern is consistent and you have a huge cash reserve, anything else is history. Not to say day traders don't have better options out there, it just felt like the SP was being manipulated since it was bouncing up and down between 363-364 range.
Yes, this is purely based upon the chart and he did predict I think a 70% chance that the stock would drop to $280s. In fairness, this was true of other chartists as well, such as @jesselivenomore. ER/news intervened, reversing the downtrend. I take this to mean that bad news/strong manipulation would be necessary to disrupt what the market action is suggesting for tomorrow. If you see the stock drop late and close below $363.6, it suggests that others are aware of the importance of this level in determining the action tomorrow.
Pshah! It's every bit as scientifically based as astrology. You don't seem to realize the amount and level of math involved, as in calculating planets' and stars' apparent moves. My Grandma used to draw up horoscopes using lamp shade frames. That tells me something! So there.
It comes down to statistics and probabilities. You know what M. Twain said about statistics...probably applies equally well to TA.
It's obviously Phrenology. Isn't that how all the rest of you also pick your stocks based on the lumps in your head? All those other things are fake pseudoscience.
