Well OK charts not pictures, but getting a visual fix on the markets is helpful for some of us. For others technical analysis is akin to astrology or witchcraft, but I prefer to think of it as an aid to behavioural psychology and we all need help on that front. Doug Kass has an interesting way of summing up the debate.
A technical analyst and a fundamental analyst are chatting about the markets in the kitchen.
One of them accidentally knocks a kitchen knife off of the table, and it lands right in the fundamental analyst’s foot.
The fundamental analyst yells at the technician, asking him why he didn’t catch the knife.
“You know technicians don’t catch falling knives!” the technician responded.
He, in turn, asks the fundamental analyst why he didn’t move his foot out of the way.
The fundamental analyst responds: ‘I didn’t think it could go that low!”
So click on this link to see the latest Chart Book from the View.