> The way it was explained to me is that if the EMH is true, then looking at fundamentals is pointless because all the fundamentals are already priced-in, which leaves nothing but price and volume data left to analyze.
So, TA proponents believe that market forces, economics, political and social trends, etc, are all instantaneously absorbed by the market - but "double tops"[1] and "hanging mans"[2] and "three black crows"[3] are all low-hanging fruit that the elite can take advantage of?
I'm usually pretty open-minded, but I can't make myself see anyone believing this non-ironically.