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  1. stjeanluc
    February 11th, 2014 at 9:16 am

    This guy is making some of your point Phil:

    http://www.priceactionlab.com/Blog/2014/02/stock-market-near-a-crucial-pivot-point/

    Actually, despite the short rally, the market has been close to random since the beginning of this year. There is no point in trying to forecast or time the moves of this market using technical analysis at this point. The future direction will depend on information that is not available yet and all past information has already been discounted. A good technical analyst is not only one who knows his subject well but also one who knows when to pause. Hopefully, technical analysis offers us ways of deciding when it is prudent to take a break from it.



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