Yeah, I half expected a couple downvotes on that one, lol. :P
But, seriously, IMO, to the extent that technical analysis "works," it's probably just exploiting short term momentum. Momentum strategies have been shown to generate alpha. Other than that, you'd probably be just as well off reading tea leaves and goat entrails to guide your trading strategy.
But, seriously, IMO, to the extent that technical analysis "works," it's probably just exploiting short term momentum. Momentum strategies have been shown to generate alpha. Other than that, you'd probably be just as well off reading tea leaves and goat entrails to guide your trading strategy.