This is not a ‘make fun of the man who stares at charts’ post *, although man’s nickname made me want it to be :-). I actually enjoy the man’s presentation as he talks about trends and pullbacks simply and without the need to try what all too many men and women who stare at charts try, which is to baffle you with overly technical and complicated sounding bullshit. Click the pic for this tutorial.
I actually think “the chart master” is well worth a listen, although the new high in the Semi sector stands in refutation of his claim that tech stocks may be double topping (if the Semi→Tech→SPX leadership string holds true). Of note, he does like AMAT, which I bought for its chart only. So there’s that. He’s looking for some things to play catch up. But if tech were to top, the pressure would likely be widespread.
Anyway, what I like best about his presentation is that it’s so simple a child or your 90 year old grandma could do it. That is a compliment. I’d say the same thing about John Murphy, the founder of stockcharts.com. The best TAs don’t go overboard with the indicators and EW counts, trying to confuse you just enough so you get the feeling that the man staring at charts receives his information from a higher ground than mere mortals do.
* The last time I did that I made fun of myself.
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