> The results were positive with an overwhelming statistical confidence for each of the patterns using the data set of all S&P 500 stocks daily for the five year period 1992-1996.
The fact that line even has to be used is a massive red flag.
> overwhelming statistical confidence for each of the patterns using the data set of all S&P 500 stocks daily for the five year period 1992-1996.
And tech VCs investing in anything from 1995-2000 were positive with an overwhelming statistical confidence that their portfolios were anything but randomly chosen.
http://en.wikipedia.org/wiki/Technical_analysis#Scientific_T... The results were positive with an overwhelming statistical confidence for each of the patterns using the data set of all S&P 500 stocks daily for the five year period 1992-1996.