Armed with the most basic tools, technical analysts can be their own worst enemies.
Technical analysts would call 1, 000 a resistance level for the Dow in the late 1970s.
As we suggested yesterday, technical analysts believe this 1, 040 figure is an important line in the sand.
Most technical analysts, but few fundamental analysts, realize the important role that psychology plays in the stock market.
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Sure, it is easy to dismiss technical analysts as Wall Street's witch doctors.
Many technical analysts warned that the market was topping well before there were any clear signs of a recession.
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The majority of technical analysts, of course, will tell you that the fundamental data badly lags the price action.
They were in the minority, as technical analysts in those days had about the same standing as fortune tellers.
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One piece of advice: Don't look for it from technical analysts, who profess to find market patterns today that portend tomorrow's direction.
Technical analysts climbed aboard and ranted their mumbo jumbo about moving average breakdowns, Fibonacci retracements, waves and cycles and on and on.
Sure, it's easy to dismiss technical analysts as Wall Street's witch doctors.
Technical analysts at Barchart.com have Baidu as a strong sell on Monday.
When Citigroup (C) goes through its 1 for 10 reverse split, both technical analysts and high frequency traders will be making adjustments.
That goes against the grain of what technical analysts are saying.
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Peter Rehmer, an energy specialist at US-based technical analysts Elliott Wave International, said Opec was looking for a decisive price rise before it increased production.
Prior to the financial crash of 2008 there was an ongoing debate between fundamental and technical analysts as to whether investors or traders should use stops.
Because technical analysts read stock charts and look for patterns in closing prices, sophisticates like to portray them as no more than cheap fortune-tellers reading tea leaves.
Over the next 20 years, Tim organized technical analysis group (TAG) seminars around the world and was recognized for his efforts by the International Federation of Technical Analysts.
And because technical analysts read stock charts and look for patterns in closing prices, sophisticates like to portray them as no more than cheap fortune tellers reading tea leaves.
Technical analysts pointed to the Nikkei's rise to more than 10% above its 25-day moving average as a sure sign of an overbought market waiting for an excuse to correct.
The technical analysts' reaction was harsh, to say the least--ranging from quibbling about my grammar to arguing that because technical analysis has attracted a large following, it must have merit.
Like their fundamentally-based colleagues, Wall Street technical analysts tend to ignore the taking profit phase of investing as they consider new highs as a breakout and thus project even higher levels.
As Johnson and other technical analysts see it, the left shoulder is the 1998 high, the head the early 2000 peak, and the right shoulder is the high reached earlier this year.
Technical analysts point out that gold prices are holding near some important support and resistance levels, and depending on which way gold goes next week, it could set the stage for near-term price direction.
Two technical analysts, Adam Hewison, president and chief strategist with INO and MarketClub.com and Darin Newsom, Telvent DTN senior analyst, both said gold has run into short-term technical chart resistance which could put pressure on prices.
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Market participants include bullion dealers, investment banks, futures traders, money managers and technical chart analysts.
Technical chart analysts said those markets are having their uptrend movements questioned, at least in the short-term.
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Market participants include bullion dealers, investment banks, futures traders and technical chart analysts.
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