Chart Astrology

traderfeed is making fun of EWT today.

I'm a huge fan of Chart Astrology.... I kind of feel I have to defend myself.

and even I think it's a joke... As are about 98% of the indicators Technicians use. MACD WTF, why do I need an indicator to show me that the market has stopped trending in a single direction, and that 2 different moving averages, one long and one short, and that they have to Diverge, then Converge to get a Curve.... But I swear I can see a curve, I have eyes, they kind of look like a Curve, I'm very familiar with that shape... kind of like part of a circle right? . I can kind of draw a line and see that. Also, it's obvious that any curve has 3 stages, as it starts to turn up, as it accelerates to the upside, then as it decelerates. as a function of Time Vs. up movement. Once you adapt an adoption curve to a Trend, you get an Elliot wave.

What blows my mind are people who think the market trades in Random Walk patterns, and volume Spikes, trading on news. Most the volume in a move is in the middle. Grim News is ignored, the slightest Whisper, and Build a full on Reversal..... What did a Trader say "mars in Retrograde".... For hell's sake.

Elliot was a lunitic... Problem is, so was Tesla, syd barrett, lary Kudlow, Newton was into Alcamy, John Nash, Jack Kerouac.

Just because people are loons and wrong about most of what they say, doesnt' mean that a blind pig can't find a Trouffle or 2.