Some investors believe they can make money by finding patterns in the stock market.
They engage in a practice called “technical analysis.”
They use a lot of fancy sounding terms to justify their work.
Exhaustive studies have found technical analysis yields little benefit.
Profits using technical analysis, are typically eliminated by transaction costs.
Engaging in technical analysis is a wasteful and useless exercise.
Don’t rely on it – or upon those pretending to have the ability to use it to your advantage.
My personal view is that it should be called “technical nonsense.”